Jeffrey Ronald Gannon Sells 1,225 Shares of K-Bro Linen (TSE:KBL) Stock

K-Bro Linen Inc. (TSE:KBL) insider Jeffrey Ronald Gannon sold 1,225 shares of K-Bro Linen stock in a transaction on Wednesday, June 10th. The shares were 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 of the company’s stock, valued at approximately C$647,094. This trade represents a 7.37% decrease in their ownership of the stock.

K-Bro Linen Price Performance

Shares of TSE KBL opened at C$43.19 on Monday. The stock has a market cap of C$557.24 million, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. K-Bro Linen Inc. has a fifty-two week low of C$33.30 and a fifty-two week high of C$43.87. 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 stock has a fifty day moving average of C$39.26 and a 200-day moving average of C$36.55.

K-Bro Linen (TSE:KBL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.36 earnings per share for the quarter. The company 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%. Equities research analysts anticipate that K-Bro Linen Inc. will post 2.3389262 earnings per share for the current year.

Wall Street Analyst Weigh In

KBL has been the subject of several research analyst reports. National Bank Financial set a C$51.00 price objective on K-Bro Linen and gave the company an “outperform” rating in a research note on Friday, April 10th. TD lifted their price objective on 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 investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$51.00.

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.