K-Bro Linen (TSE:KBL) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised K-Bro Linen’s price target to C$54 from C$51 and maintained an “outperform” rating, implying approximately 11% upside from the reported share price.
• Analyst sentiment is broadly positive: TD raised its target to C$52, upgraded the stock to “strong buy,” and MarketBeat reports a consensus “Buy” rating with a C$52 target.
• K-Bro Linen shares reached C$48.63, near their one-year high of C$48.69. The company reported quarterly EPS of C$0.36 on C$139.11 million in revenue, while insiders were net buyers over the past quarter.

K-Bro Linen (TSE:KBL - Get Free Report) had its price target lifted by equities research analysts at National Bank Financial from C$51.00 to C$54.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price target suggests a potential upside of 11.04% from the company's current price.

Other equities research analysts have also issued reports about the stock. TD boosted their target price on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. TD Securities upgraded K-Bro Linen to a "strong-buy" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of C$52.00.

K-Bro Linen Price Performance

Shares of KBL stock traded up C$1.23 during trading on Tuesday, hitting C$48.63. The company had a trading volume of 16,921 shares, compared to its average volume of 18,737. The stock's 50-day moving average price is C$43.62 and its 200 day moving average price is C$38.68. The firm has a market capitalization of C$627.42 million, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. The company has a debt-to-equity ratio of 116.44, a quick ratio of 0.87 and a current ratio of 1.87. K-Bro Linen has a one year low of C$33.30 and a one year high of C$48.69.

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

Insider Activity at K-Bro Linen

In other news, insider K-Bro Linen Inc. purchased 2,670 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of C$41.33 per share, with a total value of C$110,351.10. Following the completion of the acquisition, the insider owned 343,321 shares in the company, valued at C$14,189,456.93. This trade represents a 0.78% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of C$42.00, for a total transaction of C$51,450.00. Following the completion of the transaction, 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. Insiders acquired a total of 14,622 shares of company stock worth $605,901 over the last quarter. Corporate insiders own 3.25% of the company's stock.

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.

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