K-Bro Linen (TSE:KBL) Sets New 52-Week High - Time to Buy?

Key Points

• K-Bro Linen hit a new 52-week high on Thursday, trading as high as C$45.50 and ending near C$45.45, up about 2.6% on the day.
• Wall Street sentiment remains positive: TD raised its price target to C$52.00 with a buy rating, and the consensus analyst target is about C$51.00.
• The company recently reported quarterly EPS of C$0.36 on revenue of C$139.11 million, while insider activity has been mixed with one recent sale and one purchase.

K-Bro Linen Inc. (TSE:KBL - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$45.50 and last traded at C$45.45, with a volume of 3606 shares. The stock had previously closed at C$44.12.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KBL. TD upped their target price on K-Bro Linen from C$50.00 to C$52.00 and gave the company a "buy" rating in a report on Thursday, May 7th. National Bank Financial set a C$51.00 price objective on K-Bro Linen and gave the stock an "outperform" rating in a research report on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, K-Bro Linen currently has an average rating of "Buy" and an average price target of C$51.00.

K-Bro Linen Stock Up 2.6%

The stock's 50-day moving average price is C$41.70 and its two-hundred day moving average price is C$37.63. The stock has a market capitalization of C$583.94 million, a P/E ratio of 28.11, a P/E/G ratio of 3.50 and a beta of 0.89. The company has a current ratio of 1.87, a quick ratio of 0.87 and a debt-to-equity ratio of 116.44.

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

Insider Activity

In related news, insider Jeffrey Ronald Gannon sold 1,225 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$42.00, for a total value of C$51,450.00. Following the sale, the insider directly owned 15,407 shares in the company, valued at approximately C$647,094. The trade was a 7.37% decrease in their position. Also, insider K-Bro Linen Inc. acquired 2,670 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of C$41.33 per share, for a total transaction of C$110,351.10. Following the completion of the purchase, the insider directly owned 343,321 shares in the company, valued at C$14,189,456.93. This trade represents a 0.78% increase in their position. In the last three months, insiders purchased 14,622 shares of company stock valued at $605,901. 3.25% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.