K-Bro Linen (TSE:KBL) Price Target Raised to C$55.00

K-Bro Linen (TSE:KBL) had its price target hoisted by ATB Cormark Capital Markets from C$50.00 to C$55.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective would suggest a potential upside of 17.52% from the stock’s current price.

Several other analysts also recently issued reports on KBL. TD Securities raised K-Bro Linen to a “strong-buy” rating in a research note on Friday, July 24th. TD increased their price objective on K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, National Bank Financial lifted their target price on K-Bro Linen from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, K-Bro Linen presently has an average rating of “Buy” and an average target price of C$53.17.

K-Bro Linen Stock Up 1.2%

Shares of TSE:KBL traded up C$0.54 during midday trading on Thursday, reaching C$46.80. 16,263 shares of the company were exchanged, compared to its average volume of 18,420. K-Bro Linen has a fifty-two week low of C$33.30 and a fifty-two week 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. The stock has a fifty day simple moving average of C$44.46 and a two-hundred day simple moving average of C$39.31. The firm has a market cap of C$603.81 million, a PE ratio of 29.07, a P/E/G ratio of 3.50 and a beta of 0.89.

K-Bro Linen (TSE:KBL) last posted its quarterly earnings data on Tuesday, August 4th. The company reported C$0.78 EPS for the quarter. The business had revenue of C$150.36 million for the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. As a group, sell-side analysts forecast that K-Bro Linen will post 2.3389262 earnings per share for the current year.

Insider Activity at K-Bro Linen

In other news, insider Jeffrey Ronald Gannon sold 1,225 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$42.00, for a total value of C$51,450.00. Following the completion of the sale, the insider owned 15,407 shares of the company’s stock, valued at approximately C$647,094. This represents a 7.37% decrease in their position. Also, insider K-Bro Linen Inc. bought 5,341 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of C$41.25 per share, with a total value of C$220,316.25. Following the completion of the purchase, the insider directly 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. Insiders have acquired a total of 14,622 shares of company stock worth $605,901 in the last ninety days. Insiders own 3.25% of the company’s stock.

About K-Bro Linen

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.