Stifel Nicolaus Forecasts Strong Price Appreciation for K-Bro Linen (TSE:KBL) Stock

K-Bro Linen (TSE:KBL) had its target price raised by Stifel Nicolaus from C$52.00 to C$54.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 15.38% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. ATB Cormark Capital Markets raised their price objective on K-Bro Linen from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities upgraded shares of K-Bro Linen to a “strong-buy” rating in a report on Friday, July 24th. Raymond James Financial lifted their price objective on shares of K-Bro Linen from C$50.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Thursday. TD increased 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 report on Thursday, May 7th. Finally, National Bank Financial raised 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 note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat, K-Bro Linen currently has an average rating of “Buy” and a consensus price target of C$53.17.

K-Bro Linen Stock Up 1.2%

Shares of KBL traded up C$0.54 during midday trading on Thursday, reaching C$46.80. 16,263 shares of the stock were exchanged, compared to its average volume of 18,420. K-Bro Linen has a 52 week low of C$33.30 and a 52 week high of C$48.69. The company has a current ratio of 1.87, a quick ratio of 0.87 and a debt-to-equity ratio of 116.44. The company’s 50 day moving average is C$44.46 and its two-hundred day moving average is C$39.31. The company has a market capitalization of C$603.81 million, a P/E ratio of 29.07, a PEG ratio of 3.50 and a beta of 0.89.

K-Bro Linen (TSE:KBL) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$0.78 EPS for the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%.The firm had revenue of C$150.36 million for the quarter. On average, sell-side analysts anticipate that K-Bro Linen will post 2.3389262 earnings per share for the current year.

Insider Buying and Selling at K-Bro Linen

In other news, insider Jeffrey Ronald Gannon sold 1,225 shares of K-Bro Linen stock in a transaction on Wednesday, June 10th. The shares were 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 in the company, valued at approximately C$647,094. The trade was a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. bought 2,670 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost 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. This trade represents a 0.78% increase in their ownership of the stock. Insiders have bought 14,622 shares of company stock valued at $605,901 over the last quarter. 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.