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

K-Bro Linen (TSE:KBL - Free Report) had its target price raised by Stifel Nicolaus from C$46.00 to C$50.00 in a research note published on Friday morning,BayStreet.CA reports.

Other analysts have also recently issued research reports about the company. Cormark cut K-Bro Linen from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 4th. TD Securities lifted their price target on K-Bro Linen from C$48.00 to C$49.00 and gave the stock a "buy" rating in a research report on Monday, March 24th. Raymond James lifted their price target on K-Bro Linen from C$45.00 to C$48.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Finally, Acumen Capital lifted their price target on K-Bro Linen from C$50.00 to C$52.00 and gave the stock a "buy" rating in a research report on Monday, March 24th.

K-Bro Linen Stock Down 1.1%

Shares of KBL traded down C$0.40 during midday trading on Friday, hitting C$35.65. 46,980 shares of the company's stock traded hands, compared to its average volume of 12,138. K-Bro Linen has a 1 year low of C$30.69 and a 1 year high of C$40.03. The firm's fifty day moving average is C$35.14 and its 200-day moving average is C$35.77. The company has a current ratio of 2.08, a quick ratio of 0.87 and a debt-to-equity ratio of 102.23. The stock has a market capitalization of C$374.07 million, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 3.50 and a beta of 1.08.

K-Bro Linen Announces Dividend

The company also recently announced a jun 25 dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.10 dividend. K-Bro Linen's payout ratio is 67.15%.

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.