K-Bro Linen (TSE:KBL) Sets New 12-Month High – What’s Next?

K-Bro Linen Inc. (TSE:KBL)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$43.97 and last traded at C$43.67, with a volume of 531 shares changing hands. The stock had previously closed at C$43.20.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. National Bank Financial set a C$51.00 target price on shares of K-Bro Linen and gave the stock an “outperform” rating in a research report on Friday, April 10th. TD raised their price objective on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, K-Bro Linen currently has an average rating of “Buy” and an average target price of C$51.00.

K-Bro Linen Stock Up 1.8%

The company has a debt-to-equity ratio of 116.44, a current ratio of 1.87 and a quick ratio of 0.87. The firm has a 50-day simple moving average of C$41.33 and a two-hundred day simple moving average of C$37.42. The company has a market cap of C$583.04 million, a PE ratio of 28.07, a P/E/G ratio of 3.50 and a beta of 0.89.

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

Insider Activity

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