K-Bro Linen (TSE:KBL) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• K-Bro Linen Inc. shares surpassed their 200-day moving average, reaching a high of C$37.48 during trading, while the last traded price was C$37.18.
• TD Securities upgraded the stock's price target from C$50.00 to C$55.00, maintaining a "buy" rating, contributing to a consensus rating of "Moderate Buy" among analysts.
• The company declared a $0.10 dividend on September 25, with a payout ratio of 68.97%, reflecting its financial health and shareholder commitment.

Shares of K-Bro Linen Inc. (TSE:KBL - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$35.41 and traded as high as C$37.48. K-Bro Linen shares last traded at C$37.18, with a volume of 29,875 shares.

Analyst Upgrades and Downgrades

Separately, TD Securities lifted their price objective on K-Bro Linen from C$50.00 to C$55.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Three research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of C$51.25.

K-Bro Linen Stock Performance

The company has a market capitalization of C$478.13 million, a price-to-earnings ratio of 21.37, a PEG ratio of 3.50 and a beta of 0.53. The stock has a fifty day moving average price of C$36.54 and a two-hundred day moving average price of C$35.41. The company has a quick ratio of 0.87, a current ratio of 2.08 and a debt-to-equity ratio of 102.23.

K-Bro Linen Dividend Announcement

The business also recently declared a sep 25 dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.10 dividend. K-Bro Linen's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.