K-Bro Linen (TSE:KBL) Given New C$54.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised K-Bro Linen’s price target from C$52.00 to C$54.00 and maintained a “buy” rating, implying 15.38% upside from the previous close.
• Analyst sentiment remains positive: K-Bro has a consensus “Buy” rating and an average price target of C$53.17, with recent target increases from National Bank Financial, ATB Cormark, and Raymond James.
• K-Bro reported quarterly EPS of C$0.78 on revenue of C$150.36 million. Its shares traded at C$46.80, near the upper end of their 12-month range, while insiders have made net purchases over the past 90 days.

K-Bro Linen (TSE:KBL - Get Free Report) had its price objective raised by investment analysts at Stifel Nicolaus from C$52.00 to C$54.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 15.38% from the stock's previous close.

Several other analysts have also recently issued reports on KBL. 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 research report on Tuesday, July 28th. ATB Cormark Capital Markets lifted their target price on K-Bro Linen from C$50.00 to C$55.00 and gave the stock an "outperform" rating in a report on Thursday. Raymond James Financial boosted their target price on K-Bro Linen from C$50.00 to C$54.00 and gave the company an "outperform" rating in a research report on Thursday. TD Securities upgraded K-Bro Linen to a "strong-buy" rating in a research report on Friday, July 24th. Finally, TD lifted their price objective on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One research 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.com, the company has a consensus rating of "Buy" and a consensus price target of C$53.17.

K-Bro Linen Price Performance

TSE KBL traded up C$0.54 on Thursday, reaching C$46.80. The company had a trading volume of 16,263 shares, compared to its average volume of 18,420. 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 quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44. The firm's 50 day moving average price is C$44.46 and its 200 day moving average price is C$39.31. The stock has a market capitalization of C$603.81 million, a PE ratio of 29.07, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89.

K-Bro Linen (TSE:KBL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported C$0.78 EPS for the quarter. The company had revenue of C$150.36 million for the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%. As a group, equities analysts predict that K-Bro Linen will post 2.3389262 earnings per share for the current year.

Insiders Place Their Bets

In other K-Bro Linen news, insider K-Bro Linen Inc. acquired 5,341 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of C$41.25 per share, with a total value of C$220,316.25. Following the transaction, the insider directly owned 338,581 shares of the company's stock, valued at C$13,966,466.25. The trade was a 1.60% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the business's 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 sale, the insider directly owned 15,407 shares of the company's stock, valued at C$647,094. This represents a 7.37% decrease in their ownership of the stock. In the last 90 days, insiders have purchased 14,622 shares of company stock valued at $605,901. 3.25% of the stock is owned by company insiders.

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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