K-Bro Linen (TSE:KBL) Hits New 1-Year High – Here’s What Happened

K-Bro Linen Inc. (TSE:KBL)’s stock price reached a new 52-week high on Friday . The company traded as high as C$43.14 and last traded at C$43.23, with a volume of 3290 shares traded. The stock had previously closed at C$43.05.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. TD lifted their price target on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. 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 report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$51.00.

K-Bro Linen Stock Up 0.8%

The firm has a market capitalization of C$559.95 million, a P/E ratio of 26.96, a P/E/G ratio of 3.50 and a beta of 0.89. The company has a fifty day simple moving average of C$40.76 and a 200 day simple moving average of C$37.11. The company has a quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44.

K-Bro Linen (TSE:KBL) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$0.36 earnings per share for the quarter. The firm 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%. On average, equities analysts expect that K-Bro Linen Inc. will post 2.3389262 EPS for the current fiscal year.

Insider Transactions at K-Bro Linen

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

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.