K-Bro Linen (TSE:KBL) Price Target Raised to C$54.00

K-Bro Linen (TSE:KBL) had its price target upped by Raymond James Financial from C$50.00 to C$54.00 in a research note published on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. TD boosted their target price on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. TD Securities raised shares of K-Bro Linen to a “strong-buy” rating in a research note 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 report on Tuesday, July 28th. Finally, ATB Cormark Capital Markets raised their price target on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$53.17.

K-Bro Linen Stock Performance

Shares of TSE:KBL opened at C$47.06 on Thursday. K-Bro Linen has a twelve month low of C$33.30 and a twelve month high of C$48.69. The firm has a market cap of C$607.17 million, a PE ratio of 29.23, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. 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 business has a fifty day moving average of C$44.68 and a 200-day moving average of C$39.44.

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 net margin of 3.51% and a return on equity of 7.12%. The business had revenue of C$150.36 million for the quarter. On average, equities research analysts predict that K-Bro Linen will post 2.3389262 EPS for the current fiscal year.

Insider Buying and Selling at K-Bro Linen

In other news, insider K-Bro Linen Inc. acquired 5,341 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of C$41.25 per share, for a total transaction 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 ownership of the stock. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the business’s 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 sale, the insider directly owned 15,407 shares of the company’s stock, valued at C$647,094. This represents a 7.37% decrease in their ownership of the stock. Insiders have bought 14,622 shares of company stock worth $605,901 in the last ninety days. 3.25% of the stock is currently owned by 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.