Insider Buying: K-Bro Linen (TSE:KBL) Insider Acquires 2,670 Shares of Stock

K-Bro Linen Inc. (TSE:KBL) insider K-Bro Linen Inc. purchased 2,670 shares of K-Bro Linen stock in a transaction that occurred on Friday, May 29th. The stock was 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 owned 343,321 shares in the company, valued at C$14,189,456.93. This represents a 0.78% increase in their position.

K-Bro Linen Inc. also recently made the following trade(s):

• On Tuesday, May 26th, K-Bro Linen Inc. purchased 4,541 shares of K-Bro Linen stock. The stock was purchased at an average price of C$41.83 per share, with a total value of C$189,950.03.
• On Wednesday, May 27th, K-Bro Linen Inc. purchased 5,341 shares of K-Bro Linen stock. The stock was purchased at an average price of C$41.25 per share, with a total value of C$220,316.25.
• On Thursday, May 28th, K-Bro Linen Inc. purchased 2,070 shares of K-Bro Linen stock. The stock was purchased at an average price of C$41.20 per share, with a total value of C$85,284.00.

K-Bro Linen Trading Up 0.3%

Shares of TSE:KBL traded up C$0.13 during mid-day trading on Tuesday, hitting C$41.20. The stock had a trading volume of 9,861 shares, compared to its average volume of 21,899. The company has a debt-to-equity ratio of 116.44, a quick ratio of 0.87 and a current ratio of 1.87. The company has a market cap of C$531.56 million, a PE ratio of 25.59, a P/E/G ratio of 3.50 and a beta of 0.57. K-Bro Linen Inc. has a 12-month low of C$33.30 and a 12-month high of C$42.69. The company’s 50 day moving average is C$37.98 and its 200-day moving average is C$36.15.

K-Bro Linen (TSE:KBL) last issued its quarterly earnings results 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 net margin of 3.51% and a return on equity of 7.12%. On average, sell-side analysts predict that K-Bro Linen Inc. will post 2.3389262 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KBL shares. National Bank Financial set a C$51.00 price target on shares of K-Bro Linen and gave the company an “outperform” rating in a research report on Friday, April 10th. TD upped 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.20.

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.