K-Bro Linen Inc. (TSE:KBL) Stock Now Rated "Buy" by Wall Street Analysts

Key Points

• Analysts have a bullish outlook on K-Bro Linen: Six firms rate the stock Buy or Strong Buy, with an average 12-month price target of C$53.17.
• Several analysts recently raised their price targets to between C$54 and C$55, while TD Securities upgraded the stock to Strong Buy.
• K-Bro Linen reported quarterly revenue of C$150.36 million and earnings of C$0.78 per share; its shares opened at C$41.60, below the analyst consensus target.

K-Bro Linen Inc. (TSE:KBL - Get Free Report) has been assigned an average recommendation of "Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$53.17.

A number of equities research analysts recently commented on KBL shares. Stifel Nicolaus lifted their price objective on K-Bro Linen from C$52.00 to C$54.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. ATB Cormark Capital Markets boosted their price objective on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Raymond James Financial raised their price target on shares of 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. TD Securities raised K-Bro Linen to a "strong-buy" rating in a research report on Friday, July 24th. Finally, National Bank Financial upped 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 report on Tuesday, July 28th.

K-Bro Linen Trading Up 0.8%

Shares of KBL opened at C$41.60 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.85 and a debt-to-equity ratio of 113.71. K-Bro Linen has a 12-month low of C$33.61 and a 12-month high of C$48.69. The firm has a market capitalization of C$535.23 million, a PE ratio of 24.33, a price-to-earnings-growth ratio of 3.50 and a beta of 0.94. The stock's fifty day simple moving average is C$43.22 and its 200-day simple moving average is C$42.39.

K-Bro Linen (TSE:KBL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$0.78 EPS for the quarter. K-Bro Linen had a return on equity of 7.89% and a net margin of 3.67%. The firm had revenue of C$150.36 million during the quarter. As a group, research analysts predict that K-Bro Linen will post 2.34 earnings per share for the current year.

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.

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