K-Bro Linen (TSE:KBL) Upgraded to Strong-Buy at TD Securities

K-Bro Linen (TSE:KBL) was upgraded by equities research analysts at TD Securities to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

KBL has been the subject of several other research reports. National Bank Financial set a C$51.00 price target on shares of K-Bro Linen and gave the stock an “outperform” rating in a report on Friday, April 10th. TD boosted 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. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$51.00.

K-Bro Linen Stock Up 0.8%

Shares of KBL opened at C$47.49 on Friday. The company has a current ratio of 1.87, a quick ratio of 0.87 and a debt-to-equity ratio of 116.44. K-Bro Linen has a 12 month low of C$33.30 and a 12 month high of C$47.85. The stock’s 50 day moving average is C$43.47 and its two-hundred day moving average is C$38.57. The firm has a market cap of C$612.72 million, a P/E ratio of 29.50, a PEG ratio of 3.50 and a beta of 0.89.

K-Bro Linen (TSE:KBL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$0.36 EPS for the quarter. The business had revenue of C$139.11 million during the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%. Analysts predict that K-Bro Linen will post 2.3389262 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider K-Bro Linen Inc. purchased 2,670 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of C$41.33 per share, with a total value of C$110,351.10. Following the completion of the purchase, the insider directly owned 343,321 shares of the company’s stock, valued at approximately C$14,189,456.93. The trade was a 0.78% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the business’s 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 sale, the insider owned 15,407 shares of the company’s stock, valued at C$647,094. The trade was a 7.37% decrease in their ownership of the stock. Insiders bought 14,622 shares of company stock worth $605,901 over the last ninety days. Corporate 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.