K-Bro Linen (TSE:KBL) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

K-Bro Linen Inc. (TSE:KBL)’s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KBL shares. National Bank Financial boosted their price target on K-Bro Linen from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Stifel Nicolaus boosted their price objective on shares of K-Bro Linen from C$52.00 to C$54.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. ATB Cormark Capital Markets increased their target price on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Raymond James Financial raised their price target on K-Bro Linen from C$50.00 to C$54.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, TD Securities upgraded shares of K-Bro Linen to a “strong-buy” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$53.17.

K-Bro Linen Stock Up 1.4%

The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.87 and a current ratio of 1.85. The firm has a market capitalization of C$543.97 million, a P/E ratio of 24.73, a PEG ratio of 3.50 and a beta of 0.94. The business’s fifty day moving average price is C$44.57 and its two-hundred day moving average price is C$41.88.

K-Bro Linen (TSE:KBL) last announced its earnings results on Tuesday, August 4th. The company reported C$0.78 earnings per share for the quarter. K-Bro Linen had a return on equity of 7.89% and a net margin of 3.67%.The firm had revenue of C$150.36 million for the quarter. Equities analysts expect 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.