K-Bro Linen Inc. (TSE:KBL) Given Consensus Recommendation of “Buy” by Analysts

Shares of K-Bro Linen Inc. (TSE:KBL) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$53.17.

Several analysts have issued reports on the stock. National Bank Financial increased their price objective on shares of K-Bro Linen from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. ATB Cormark Capital Markets lifted their target price on K-Bro Linen from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Thursday. TD increased their price objective on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. TD Securities raised shares of K-Bro Linen to a “strong-buy” rating in a report on Friday, July 24th. Finally, Raymond James Financial increased their price objective on K-Bro Linen from C$50.00 to C$54.00 and gave the stock an “outperform” rating in a report on Thursday.

Insider Activity at K-Bro Linen

In other news, insider Jeffrey Ronald Gannon sold 1,225 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at C$647,094. This represents a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. acquired 5,341 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of C$41.25 per share, with a total value of C$220,316.25. Following the purchase, the insider directly owned 338,581 shares in the company, valued at approximately C$13,966,466.25. This trade represents a 1.60% increase in their position. In the last 90 days, insiders acquired 14,622 shares of company stock worth $605,901. 3.25% of the stock is currently owned by company insiders.

K-Bro Linen Trading Up 1.6%

Shares of TSE:KBL traded up C$0.72 during trading on Thursday, reaching C$46.98. The stock had a trading volume of 25,709 shares, compared to its average volume of 18,513. K-Bro Linen has a fifty-two week low of C$33.30 and a fifty-two week high of C$48.69. The stock has a market cap of C$606.14 million, a P/E ratio of 29.18, a PEG ratio of 3.50 and a beta of 0.89. The business has a fifty day moving average price of C$44.46 and a 200-day moving average price of C$39.31. The company has a quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44.

K-Bro Linen (TSE:KBL) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$0.78 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 business had revenue of C$150.36 million for the quarter. As a group, analysts anticipate that K-Bro Linen will post 2.3389262 earnings per share for the current fiscal year.

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.