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

Key Points

• Shares of K-Bro Linen crossed above its 200-day moving average (200‑day MA C$35.66), trading as high as C$39.08 and last at C$37.78 on a volume of 21,000, indicating a technical breakout.
• Analyst sentiment is positive: National Bank Financial gave an "outperform" rating with a C$51 target, and the consensus is a "Moderate Buy" (three Buys, one Hold) with an average target of C$49.75.
• Key fundamentals show a market cap of C$487.44M and a P/E of 25.02 with expected EPS ≈ C$2.34 for the year, but the company carries a notably high debt-to-equity ratio (116.99).

Shares of K-Bro Linen Inc. (TSE:KBL - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$35.66 and traded as high as C$39.08. K-Bro Linen shares last traded at C$37.78, with a volume of 21,000 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial set a C$51.00 target price on K-Bro Linen and gave the company an "outperform" rating in a report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$49.75.

K-Bro Linen Price Performance

The business has a 50-day simple moving average of C$36.01 and a 200 day simple moving average of C$35.66. The firm has a market cap of C$487.44 million, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 3.50 and a beta of 0.55. The company has a debt-to-equity ratio of 116.99, a quick ratio of 0.87 and a current ratio of 1.88.

K-Bro Linen (TSE:KBL - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported C$0.55 EPS for the quarter. The business had revenue of C$146.79 million during the quarter. K-Bro Linen had a return on equity of 7.09% and a net margin of 3.55%. On average, analysts anticipate that K-Bro Linen Inc. will post 2.3389262 earnings per share for the current fiscal year.

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.

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.