K-Bro Linen (TSE:KBL) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

K-Bro Linen Inc. (TSE:KBL)’s share price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$41.64 and traded as high as C$42.22. K-Bro Linen shares last traded at C$41.02, with a volume of 10,839 shares.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. National Bank Financial upped their target price 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. Stifel Nicolaus lifted 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, August 6th. TD Securities raised shares of K-Bro Linen to a “strong-buy” rating in a report on Friday, July 24th. ATB Cormark Capital Markets upped 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, August 6th. Finally, Raymond James Financial raised their price objective on K-Bro Linen from C$50.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$53.17.

K-Bro Linen Price Performance

The company has a current ratio of 1.85, a quick ratio of 0.87 and a debt-to-equity ratio of 113.71. The firm has a market cap of C$540.37 million, a P/E ratio of 24.56, a PEG ratio of 3.50 and a beta of 0.91. The company has a fifty day moving average price of C$45.09 and a two-hundred day moving average price of C$41.65.

K-Bro Linen (TSE:KBL) last issued its quarterly earnings data 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 7.89% and a net margin of 3.67%.The business had revenue of C$150.36 million during the quarter. Equities 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.