K-Bro Linen (TSE:KBL) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• K-Bro Linen's share price recently crossed above its 200-day moving average, with the stock trading at C$36.24, surpassing C$35.34.
• Analysts have raised their price targets, with Stifel Nicolaus updating theirs from C$46.00 to C$50.00, while TD Securities increased theirs from C$50.00 to C$55.00.
• The company declared a dividend of $0.10 to be paid on October 15th, with a current dividend payout ratio of 68.97%.

K-Bro Linen Inc. (TSE:KBL - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$35.34 and traded as high as C$36.61. K-Bro Linen shares last traded at C$36.24, with a volume of 17,940 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KBL shares. Stifel Nicolaus lifted their price objective on shares of K-Bro Linen from C$46.00 to C$50.00 in a research note on Friday, June 13th. TD Securities boosted their price target on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, K-Bro Linen presently has an average rating of "Moderate Buy" and an average price target of C$51.25.

K-Bro Linen Trading Down 0.3%

The company has a quick ratio of 0.87, a current ratio of 2.08 and a debt-to-equity ratio of 102.23. The firm's 50-day simple moving average is C$36.26 and its 200 day simple moving average is C$35.34. The stock has a market capitalization of C$466.05 million, a P/E ratio of 20.83, a PEG ratio of 3.50 and a beta of 0.53.

K-Bro Linen Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.10 dividend. K-Bro Linen's dividend payout ratio is currently 68.97%.

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.

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