K-Bro Linen (TSE:KBL) Sets New 1-Year High - What's Next?

Key Points

• K-Bro Linen shares hit a new 52-week high, trading as high as C$47.43 and last changing hands at C$47.09, up modestly on the day.
• Analyst sentiment remains positive, with TD raising its target to C$52 and maintaining a buy rating, while National Bank Financial set a C$51 target and also rated the stock outperform. The consensus price target is C$51.00.
• Recent fundamentals and insider activity were mixed: the company reported C$0.36 EPS on revenue of C$139.11 million for the latest quarter, while one insider bought shares and another sold shares in recent transactions.

K-Bro Linen Inc. (TSE:KBL - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as C$47.43 and last traded at C$47.09, with a volume of 7367 shares changing hands. The stock had previously closed at C$47.01.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KBL shares. TD upped their target price on K-Bro Linen from C$50.00 to C$52.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. National Bank Financial set a C$51.00 target price on K-Bro Linen and gave the company an "outperform" rating in a research note on Friday, April 10th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of C$51.00.

K-Bro Linen Stock Up 0.2%

The stock has a 50 day simple moving average of C$42.84 and a 200-day simple moving average of C$38.26. The firm has a market cap of C$607.56 million, a PE ratio of 29.25, a PEG ratio of 3.50 and a beta of 0.89. The company has a debt-to-equity ratio of 116.44, a current ratio of 1.87 and a quick ratio of 0.87.

K-Bro Linen (TSE:KBL - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported C$0.36 EPS for the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%.The firm had revenue of C$139.11 million for the quarter. Sell-side analysts predict that K-Bro Linen Inc. will post 2.3389262 EPS for the current fiscal year.

Insider Transactions at K-Bro Linen

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

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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