K-Bro Linen (TSE:KBL) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• K-Bro Linen's stock price has recently crossed above its 200-day moving average of C$35.21, current trading at C$36.22.
• Recent analyst reports show a mix of ratings, with TD Securities raising their price target to C$55.00 and Cormark downgrading their rating to "hold".
• The company announced a dividend payment of $0.10 per share to be distributed on October 15th, with a payout ratio of 68.97%.

K-Bro Linen Inc. (TSE:KBL - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$35.21 and traded as high as C$36.46. K-Bro Linen shares last traded at C$36.22, with a volume of 4,465 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KBL shares. TD Securities lifted their price target on K-Bro Linen from C$50.00 to C$55.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Stifel Nicolaus lifted their price target on K-Bro Linen from C$46.00 to C$50.00 in a research note on Friday, June 13th. Finally, Cormark cut K-Bro Linen from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, K-Bro Linen presently has a consensus rating of "Moderate Buy" and an average price target of C$51.25.

K-Bro Linen Price Performance

The stock has a market capitalization of C$465.79 million, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 3.50 and a beta of 0.63. 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 50-day simple moving average of C$36.01 and a 200 day simple moving average of C$35.21.

K-Bro Linen Announces Dividend

The firm also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.10 per share. K-Bro Linen's payout ratio is presently 68.97%.

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.

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