K-Bro Linen (TSE:KBL) Hits New 12-Month High – Here’s What Happened

K-Bro Linen Inc. (TSE:KBL) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$46.17 and last traded at C$46.17, with a volume of 2104 shares. The stock had previously closed at C$45.93.

Wall Street Analyst Weigh In

KBL has been the subject of a number of recent analyst reports. TD lifted their target price 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. National Bank Financial set a C$51.00 price target on shares of K-Bro Linen and gave the stock an “outperform” rating in a report on Friday, April 10th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$51.00.

K-Bro Linen Trading Up 0.5%

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$595.43 million, a P/E ratio of 28.66, a PEG ratio of 3.50 and a beta of 0.89. The firm’s fifty day moving average price is C$42.32 and its two-hundred day moving average price is C$37.94.

K-Bro Linen (TSE:KBL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$0.36 earnings per share (EPS) for the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%.The company had revenue of C$139.11 million during the quarter. As a group, equities research analysts forecast that K-Bro Linen Inc. will post 2.3389262 EPS for the current year.

Insider Activity

In other K-Bro Linen news, insider K-Bro Linen Inc. acquired 2,670 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was bought at an average price of C$41.33 per share, with a total value of C$110,351.10. Following the completion of the acquisition, the insider owned 343,321 shares of the company’s stock, 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 that occurred 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 transaction, the insider owned 15,407 shares in the company, valued at approximately C$647,094. This trade represents a 7.37% decrease in their ownership of the stock. In the last ninety days, insiders acquired 14,622 shares of company stock worth $605,901. Insiders own 3.25% of the company’s stock.

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.