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

TD Securities upgraded shares of K-Bro Linen (TSE:KBL) to a strong-buy rating in a research note released on Friday,Zacks.com reports.

KBL has been the subject of a number of other research reports. National Bank Financial set a C$51.00 price target on K-Bro Linen and gave the company an “outperform” rating in a research note on Friday, April 10th. 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 research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$51.00.

K-Bro Linen Stock Up 0.8%

K-Bro Linen stock opened at C$47.49 on Friday. K-Bro Linen has a 1-year low of C$33.30 and a 1-year high of C$47.85. The firm has a market capitalization of C$612.72 million, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. The firm’s fifty day moving average price is C$43.47 and its two-hundred day moving average price is C$38.59. 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 (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. 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. On average, equities research analysts predict that K-Bro Linen will post 2.3389262 earnings per share for the current fiscal year.

Insider Transactions at K-Bro Linen

In other news, insider K-Bro Linen Inc. bought 2,670 shares of the company’s stock in a transaction on Friday, May 29th. The shares were purchased at an average price of C$41.33 per share, with a total value of C$110,351.10. Following the transaction, the insider directly owned 343,321 shares in the company, valued at C$14,189,456.93. This represents a 0.78% increase in their ownership of the stock. 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 completion of the transaction, the insider owned 15,407 shares in the company, valued at C$647,094. The trade was a 7.37% decrease in their position. Insiders acquired a total of 14,622 shares of company stock valued at $605,901 over the last ninety days. 3.25% of the stock is currently owned by insiders.

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.