K-Bro Linen (TSE:KBL) Price Target Raised to C$54.00

K-Bro Linen (TSE:KBL) had its price objective raised by analysts at Raymond James Financial from C$50.00 to C$54.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price target suggests a potential upside of 15.38% from the stock’s previous close.

A number of other equities research analysts have also commented on KBL. ATB Cormark Capital Markets raised their price objective 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. TD upped 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. TD Securities upgraded K-Bro Linen to a “strong-buy” rating in a research note on Friday, July 24th. Finally, National Bank Financial lifted their target price on K-Bro Linen from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat, K-Bro Linen has an average rating of “Buy” and a consensus target price of C$53.17.

K-Bro Linen Price Performance

Shares of K-Bro Linen stock traded up C$0.54 during trading on Thursday, hitting C$46.80. 16,263 shares of the company’s stock traded hands, compared to its average volume of 18,420. The firm’s fifty day moving average price is C$44.46 and its 200 day moving average price is C$39.31. The company has a debt-to-equity ratio of 116.44, a current ratio of 1.87 and a quick ratio of 0.87. The company has a market cap of C$603.81 million, a PE ratio of 29.07, a PEG ratio of 3.50 and a beta of 0.89. K-Bro Linen has a twelve month low of C$33.30 and a twelve month high of C$48.69.

K-Bro Linen (TSE:KBL) last posted 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 company had revenue of C$150.36 million during the quarter. Analysts forecast that K-Bro Linen will post 2.3389262 earnings per share for the current year.

Insider Transactions at K-Bro Linen

In related news, insider Jeffrey Ronald Gannon sold 1,225 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$42.00, for a total value of C$51,450.00. Following the transaction, the insider owned 15,407 shares in the company, valued at approximately C$647,094. This represents a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. purchased 5,341 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of C$41.25 per share, for a total transaction of C$220,316.25. Following the completion of the purchase, the insider directly owned 338,581 shares in the company, valued at C$13,966,466.25. This represents a 1.60% increase in their position. Insiders purchased a total of 14,622 shares of company stock worth $605,901 over the last three months. 3.25% of the stock is owned by 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.