K-Bro Linen (TSE:KBL) Share Price Passes Above 200 Day Moving Average – Should You Sell?

K-Bro Linen Inc. (TSE:KBL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$39.23 and traded as high as C$47.80. K-Bro Linen shares last traded at C$47.50, with a volume of 6,587 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of K-Bro Linen from C$52.00 to C$54.00 and gave the stock a “buy” rating in a research report on Thursday. ATB Cormark Capital Markets lifted their price objective on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities upgraded shares of K-Bro Linen to a “strong-buy” rating in a research report on Friday, July 24th. National Bank Financial raised their price target on shares of K-Bro Linen from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Finally, Raymond James Financial lifted their price target on K-Bro Linen from C$50.00 to C$54.00 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$53.17.

K-Bro Linen Price Performance

The stock has a market capitalization of C$597.75 million, a price-to-earnings ratio of 28.78, a P/E/G ratio of 3.50 and a beta of 0.89. The company has a quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44. The business has a 50-day simple moving average of C$44.46 and a two-hundred day simple moving average of C$39.31.

K-Bro Linen (TSE:KBL) last issued its quarterly earnings results on Tuesday, August 4th. The company reported C$0.78 earnings per share (EPS) for the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%.The firm had revenue of C$150.36 million during the quarter. As a group, research analysts predict that K-Bro Linen Inc. will post 2.3389262 earnings per share for the current fiscal year.

Insider Buying and Selling at K-Bro Linen

In other news, insider K-Bro Linen Inc. bought 2,670 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of C$41.33 per share, with a total value of C$110,351.10. Following the completion of the purchase, the insider directly owned 343,321 shares of the company’s stock, valued at C$14,189,456.93. This represents a 0.78% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of K-Bro Linen stock in a transaction dated 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 transaction, the insider directly owned 15,407 shares in the company, valued at approximately C$647,094. The trade was a 7.37% decrease in their ownership of the stock. In the last 90 days, insiders bought 14,622 shares of company stock valued at $605,901. Insiders own 3.25% of the company’s stock.

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.