K-Bro Linen (TSE:KBL) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• K-Bro Linen's share price recently surpassed its 200-day moving average of C$35.10, trading as high as C$36.75 before closing at C$36.15.
• Analysts have raised their price targets for K-Bro Linen, with TD Securities setting a new target of C$55.00 and a consensus average target of C$51.25.
• The company will pay a dividend of $0.10 per share on October 15th to investors of record by September 30th.

K-Bro Linen Inc. (TSE:KBL - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$35.10 and traded as high as C$36.75. K-Bro Linen shares last traded at C$36.15, with a volume of 15,106 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KBL shares. TD Securities boosted their price objective on shares of 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. Raymond James Financial boosted their price objective on shares of K-Bro Linen from C$45.00 to C$48.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Stifel Nicolaus boosted 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. Finally, Cormark cut shares of K-Bro Linen from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$51.25.

K-Bro Linen Trading Down 0.9%

The stock has a market capitalization of C$464.89 million, a price-to-earnings ratio of 20.78, a PEG ratio of 3.50 and a beta of 0.63. The company's 50 day moving average is C$35.83 and its 200 day moving average is C$35.10. The company has a debt-to-equity ratio of 102.23, a quick ratio of 0.87 and a current ratio of 2.08.

K-Bro Linen Dividend Announcement

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