K-Bro Linen (TSE:KBL) Sets New 12-Month High – Here’s Why

K-Bro Linen Inc. (TSE:KBL)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$43.97 and last traded at C$43.67, with a volume of 531 shares trading hands. The stock had previously closed at C$43.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KBL shares. TD lifted their price target 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. National Bank Financial set a C$51.00 price objective on shares of K-Bro Linen and gave the company an “outperform” rating in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, K-Bro Linen presently has an average rating of “Buy” and a consensus target price of C$51.00.

K-Bro Linen Price Performance

The company’s 50-day moving average is C$41.05 and its 200-day moving average is C$37.30. The firm has a market capitalization of C$571.56 million, a price-to-earnings ratio of 27.52, a PEG ratio of 3.50 and a beta of 0.89. The company has a debt-to-equity ratio of 116.44, a current ratio of 1.87 and a quick ratio of 0.87.

K-Bro Linen (TSE:KBL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$0.36 earnings per share for the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. The company had revenue of C$139.11 million for the quarter. On average, research analysts expect that K-Bro Linen Inc. will post 2.3389262 earnings per share for the current year.

Insider Transactions at K-Bro Linen

In other K-Bro Linen news, insider Jeffrey Ronald Gannon sold 1,225 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 15,407 shares in the company, valued at C$647,094. This represents a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. acquired 2,670 shares of K-Bro Linen stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of C$41.33 per share, for a total transaction of C$110,351.10. Following the completion of the purchase, the insider directly owned 343,321 shares in the company, valued at approximately C$14,189,456.93. This represents a 0.78% increase in their ownership of the stock. In the last three months, insiders have acquired 14,622 shares of company stock valued at $605,901. 3.25% of the stock is owned by company insiders.

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. 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.