K-Bro Linen (TSE:KBL) Sets New 1-Year High – What’s Next?

K-Bro Linen Inc. (TSE:KBL)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$46.17 and last traded at C$46.17, with a volume of 2104 shares. The stock had previously closed at C$45.93.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KBL shares. TD lifted their target price on K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. National Bank Financial set a C$51.00 price target on K-Bro Linen and gave the company an “outperform” rating in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$51.00.

K-Bro Linen Stock Down 0.5%

The company has a current ratio of 1.87, a quick ratio of 0.87 and a debt-to-equity ratio of 116.44. The stock’s 50-day simple moving average is C$42.53 and its 200-day simple moving average is C$38.09. The firm has a market capitalization of C$592.20 million, a P/E ratio of 28.51, 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, May 5th. The company reported C$0.36 EPS for the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. The firm had revenue of C$139.11 million during the quarter. As a group, research analysts predict that K-Bro Linen Inc. will post 2.3389262 earnings per share for the current fiscal year.

Insider Buying and Selling

In other K-Bro Linen news, insider Jeffrey Ronald Gannon sold 1,225 shares of the business’s stock in a transaction 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 transaction, 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. Also, insider K-Bro Linen Inc. acquired 2,670 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of C$41.33 per share, for a total transaction of C$110,351.10. Following the transaction, the insider 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. Insiders have purchased 14,622 shares of company stock valued at $605,901 over the last ninety days. 3.25% of the stock is currently owned by company insiders.

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.