K-Bro Linen (TSE:KBL) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• K-Bro Linen shares moved above their 200-day moving average, reaching C$45.91 and last trading at C$45.36, compared with a 200-day average of C$39.96.
• Analysts remain bullish, with an average “Buy” rating and a consensus price target of C$53.17; recent targets range from C$52 to C$55.
• The company reported quarterly EPS of C$0.78 on revenue of C$150.36 million, while insiders have been net buyers over the past 90 days despite one insider sale.

K-Bro Linen Inc. (TSE:KBL - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$39.96 and traded as high as C$45.91. K-Bro Linen shares last traded at C$45.36, with a volume of 15,701 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KBL shares. Raymond James Financial increased their price target on K-Bro Linen from C$50.00 to C$54.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Stifel Nicolaus lifted their price objective on shares of K-Bro Linen from C$52.00 to C$54.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. TD boosted their price objective on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. TD Securities upgraded shares of K-Bro Linen to a "strong-buy" rating in a research report on Friday, July 24th. Finally, ATB Cormark Capital Markets upped their target price on K-Bro Linen from C$50.00 to C$55.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of C$53.17.

K-Bro Linen Trading Down 1.5%

The business's 50 day simple moving average is C$45.22 and its two-hundred day simple moving average is C$39.96. The stock has a market cap of C$583.60 million, a P/E ratio of 26.53, a PEG ratio of 3.50 and a beta of 0.89. The company has a quick ratio of 0.87, a current ratio of 1.85 and a debt-to-equity ratio of 113.71.

K-Bro Linen (TSE:KBL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$0.78 EPS for the quarter. K-Bro Linen had a return on equity of 7.89% and a net margin of 3.67%.The company had revenue of C$150.36 million during the quarter. As a group, analysts expect that K-Bro Linen Inc. will post 2.3389262 EPS for the current year.

Insider Transactions at K-Bro Linen

In other news, insider K-Bro Linen Inc. purchased 5,341 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average cost of C$41.25 per share, with a total value of C$220,316.25. Following the completion of the purchase, 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 K-Bro Linen stock in a transaction dated Wednesday, June 10th. The shares were 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 C$647,094. The trade was a 7.37% decrease in their ownership of the stock. In the last ninety days, insiders acquired 14,622 shares of company stock valued at $605,901. Insiders own 3.25% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source