K-Bro Linen (TSE:KBL) Issues Quarterly Earnings Results

K-Bro Linen (TSE:KBL) announced its earnings results on Tuesday. The company reported C$0.78 earnings per share (EPS) for the quarter, FiscalAI reports. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%.The company had revenue of C$150.36 million for the quarter.

K-Bro Linen Stock Performance

Shares of K-Bro Linen stock traded up C$0.10 on Tuesday, reaching C$47.50. 6,587 shares of the stock were exchanged, compared to its average volume of 18,423. The business has a 50 day moving average price of C$44.25 and a two-hundred day moving average price of C$39.14. The firm has a market capitalization of C$612.85 million, a price-to-earnings ratio of 29.50, a PEG ratio of 3.50 and a beta of 0.89. K-Bro Linen has a twelve month low of C$33.30 and a twelve month high of C$48.69. The company has a quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44.

Insider Buying and Selling

In other K-Bro Linen news, insider K-Bro Linen Inc. purchased 5,341 shares of K-Bro Linen stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of C$41.25 per share, with a total value of C$220,316.25. Following the transaction, the insider owned 338,581 shares of the company’s stock, valued at C$13,966,466.25. This represents a 1.60% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of K-Bro Linen stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$42.00, for a total transaction of C$51,450.00. Following the sale, the insider owned 15,407 shares of the company’s stock, valued at approximately C$647,094. The trade was a 7.37% decrease in their ownership of the stock. Insiders have acquired a total of 14,622 shares of company stock valued at $605,901 over the last three months. 3.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KBL has been the topic of a number of research analyst reports. TD Securities upgraded K-Bro Linen to a “strong-buy” rating in a research note on Friday, July 24th. TD lifted their target price on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, National Bank Financial upped their price target on shares of K-Bro Linen from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, K-Bro Linen has a consensus rating of “Buy” and a consensus price target of C$52.00.

K-Bro Linen Company Profile

K-Bro Linen Inc is a healthcare and hospitality laundry and linen processor in Canada. It operates in major cities across Canada, and has two distribution centers, providing management services and laundry processing of hospitality, healthcare, and specialty linens. The company provides vital products and services that help people heal, travel, live, and play. It helps hospitals and extended care centers care for the young, old, and vulnerable in environmentally responsible ways. It operates through two divisions, which are the Canadian division and the United Kingdom division.