K-Bro Linen (TSE:KBL) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• K-Bro Linen shares crossed above their 200-day moving average, reaching C$42.99 before closing at C$42.28, compared with the C$41.88 average.
• Analysts remain bullish: multiple firms raised price targets to C$54–C$55, while the consensus rating is “Buy” with a target price of C$53.17.
• The company reported quarterly EPS of C$0.78 and revenue of C$150.36 million, with a 3.67% net margin and 7.89% return on equity.

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$41.88 and traded as high as C$42.99. K-Bro Linen shares last traded at C$42.28, with a volume of 17,072 shares.

Analyst Ratings Changes

A number of analysts have commented on the stock. ATB Cormark Capital Markets upped their price target on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Stifel Nicolaus lifted their price objective on K-Bro Linen from C$52.00 to C$54.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. National Bank Financial lifted their price objective on K-Bro Linen from C$51.00 to C$54.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 28th. TD Securities raised K-Bro Linen to a "strong-buy" rating in a research note on Friday, July 24th. Finally, Raymond James Financial upped their target price on K-Bro Linen from C$50.00 to C$54.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, K-Bro Linen presently has an average rating of "Buy" and a consensus target price of C$53.17.

K-Bro Linen Stock Up 1.4%

The firm's 50 day moving average price is C$44.57 and its two-hundred day moving average price is C$41.88. The company has a market cap of C$543.97 million, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.87 and a current ratio of 1.85.

K-Bro Linen (TSE:KBL - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported C$0.78 earnings per share (EPS) for the quarter. The company had revenue of C$150.36 million for the quarter. K-Bro Linen had a net margin of 3.67% and a return on equity of 7.89%. Equities research analysts anticipate that K-Bro Linen Inc. will post 2.3389262 EPS 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.

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