K-Bro Linen (TSE:KBL) Shares Pass Above 200 Day Moving Average – What’s Next?

K-Bro Linen Inc. (TSE:KBL)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$40.44 and traded as high as C$46.26. K-Bro Linen shares last traded at C$46.09, with a volume of 6,605 shares.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD upped their price objective on K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a report on Thursday, May 7th. ATB Cormark Capital Markets lifted their target price on K-Bro Linen from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. TD Securities raised K-Bro Linen to a “strong-buy” rating in a report on Friday, July 24th. National Bank Financial boosted 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 report on Tuesday, July 28th. Finally, Stifel Nicolaus upped their price target on shares of K-Bro Linen from C$52.00 to C$54.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$53.17.

K-Bro Linen Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.85 and a debt-to-equity ratio of 113.71. The company’s fifty day moving average price is C$45.63 and its 200 day moving average price is C$40.53. The company has a market capitalization of C$605.09 million, a P/E ratio of 27.50, a PEG ratio of 3.50 and a beta of 0.89.

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. The business had revenue of C$150.36 million during the quarter. K-Bro Linen had a return on equity of 7.89% and a net margin of 3.67%. As a group, sell-side analysts forecast that K-Bro Linen Inc. will post 2.3389262 EPS for the current year.

Insider Transactions at K-Bro Linen

In related news, insider K-Bro Linen Inc. purchased 2,670 shares of the company’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 in the company, valued at C$14,189,456.93. This trade represents a 0.78% increase in their ownership of the stock. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the company’s stock in a transaction dated 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 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 position. 3.25% of the stock is owned by insiders.

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.