K-Bro Linen (TSE:KBL) Releases Earnings Results

K-Bro Linen (TSE:KBL) announced its quarterly earnings data on Tuesday. The company reported C$0.78 EPS for the quarter, FiscalAI reports. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. The company had revenue of C$150.36 million for the quarter.

K-Bro Linen Stock Performance

TSE KBL opened at C$47.50 on Wednesday. The firm has a market cap of C$612.85 million, a P/E ratio of 29.50, a P/E/G ratio of 3.50 and a beta of 0.89. K-Bro Linen has a 52-week low of C$33.30 and a 52-week high of C$48.69. The business’s 50-day moving average price is C$44.36 and its 200 day moving average price is C$39.23. The company has a quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44.

Analyst Ratings Changes

A number of equities analysts recently commented on KBL shares. TD Securities upgraded shares of K-Bro Linen to a “strong-buy” rating in a research note on Friday, July 24th. TD raised their price target on K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, National Bank Financial lifted their price target on K-Bro Linen from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat.com, K-Bro Linen currently has an average rating of “Buy” and a consensus target price of C$52.00.

Insider Activity at K-Bro Linen

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