K-Bro Linen (TSE:KBL) Sets New 12-Month High After Analyst Upgrade

K-Bro Linen Inc. (TSE:KBL)’s stock price reached a new 52-week high on Monday after TD Securities upgraded the stock to a strong-buy rating. The stock traded as high as C$47.87 and last traded at C$47.87, with a volume of 430 shares. The stock had previously closed at C$47.10.

Other equities analysts have also recently issued reports about the stock. National Bank Financial set a C$51.00 target price on shares of K-Bro Linen and gave the company an “outperform” rating in a research note on Friday, April 10th. TD upped their price target on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$51.00.

Insider Buying and Selling

In related news, insider K-Bro Linen Inc. acquired 5,341 shares of K-Bro Linen stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of C$41.25 per share, with a total value of C$220,316.25. Following the completion of the transaction, the insider directly owned 338,581 shares in the company, valued at C$13,966,466.25. This trade represents a 1.60% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of K-Bro Linen stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of C$42.00, for a total transaction of C$51,450.00. Following the transaction, the insider directly 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. Insiders have purchased a total of 14,622 shares of company stock worth $605,901 over the last three months. 3.25% of the stock is owned by insiders.

K-Bro Linen Stock Performance

The firm has a market cap of C$617.62 million, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. The stock’s 50 day moving average is C$43.47 and its 200 day moving average 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. The firm 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%. Analysts anticipate that K-Bro Linen Inc. will post 2.3389262 earnings per share for the current year.

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.