National Bank Financial Issues Positive Forecast for K-Bro Linen (TSE:KBL) Stock Price

Key Points

• National Bank Financial raised K-Bro Linen’s price target to C$56 from C$54 and maintained an “outperform” rating, implying 36.59% potential upside from the reported C$41 share price.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating and C$53.50 target price, with other firms also increasing targets or upgrading the stock.
• K-Bro Linen reported quarterly EPS of C$0.78 on revenue of C$150.36 million. Shares traded near C$41, within a 12-month range of C$33.61 to C$48.69.

K-Bro Linen (TSE:KBL - Get Free Report) had its price objective hoisted by analysts at National Bank Financial from C$54.00 to C$56.00 in a research note issued on Wednesday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 36.59% from the company's current price.

Several other research firms have also issued reports on KBL. Stifel Nicolaus increased their price target on shares of K-Bro Linen from C$52.00 to C$54.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. TD Securities upgraded shares of K-Bro Linen to a "strong-buy" rating in a research report on Friday, July 24th. Raymond James Financial upped their target price on K-Bro Linen from C$50.00 to C$54.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, ATB Cormark Capital Markets raised their target price on K-Bro Linen from C$50.00 to C$55.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$53.50.

K-Bro Linen Price Performance

KBL traded down C$0.32 on Wednesday, hitting C$41.00. 7,532 shares of the stock were exchanged, compared to its average volume of 16,013. The firm has a market capitalization of C$527.51 million, a price-to-earnings ratio of 23.98, a PEG ratio of 3.50 and a beta of 0.94. The company has a debt-to-equity ratio of 113.71, a current ratio of 1.85 and a quick ratio of 0.87. K-Bro Linen has a 12 month low of C$33.61 and a 12 month high of C$48.69. The business has a 50-day moving average of C$42.74 and a two-hundred day moving average of C$40.31.

K-Bro Linen (TSE:KBL - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported C$0.78 EPS for the quarter. The firm had revenue of C$150.36 million for the quarter. K-Bro Linen had a net margin of 3.67% and a return on equity of 7.89%. Sell-side analysts forecast that K-Bro Linen will post 2.34 EPS for the current fiscal year.

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.

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