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

K-Bro Linen (TSE:KBL) had its price target hoisted by National Bank Financial from C$51.00 to C$54.00 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on the stock. TD raised their target price on shares of 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. TD Securities upgraded shares of K-Bro Linen to a “strong-buy” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$52.00.

K-Bro Linen Stock Down 2.4%

KBL opened at C$46.71 on Tuesday. K-Bro Linen has a 12 month low of C$33.30 and a 12 month high of C$48.69. The company has a debt-to-equity ratio of 116.44, a current ratio of 1.87 and a quick ratio of 0.87. The stock has a market cap of C$602.65 million, a P/E ratio of 29.01, a P/E/G ratio of 3.50 and a beta of 0.89. The stock’s 50 day moving average price is C$44.03 and its 200 day moving average price is C$38.96.

K-Bro Linen (TSE:KBL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.36 earnings per share (EPS) for the quarter. The company 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%. As a group, research analysts predict that K-Bro Linen will post 2.3389262 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider K-Bro Linen Inc. bought 5,341 shares of K-Bro Linen stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of C$41.25 per share, with a total value of C$220,316.25. Following the completion of the acquisition, the insider directly owned 338,581 shares in the company, valued at approximately C$13,966,466.25. This trade represents a 1.60% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the stock in a transaction 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 completion of the transaction, the insider owned 15,407 shares of the company’s stock, valued at C$647,094. This trade represents a 7.37% decrease in their position. Insiders purchased a total of 14,622 shares of company stock worth $605,901 over the last 90 days. 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.