K-Bro Linen (TSE:KBL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of K-Bro Linen Inc. (TSE:KBL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$35.86 and traded as high as C$37.53. K-Bro Linen shares last traded at C$37.35, with a volume of 23,640 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TD Securities cut their price target on K-Bro Linen from C$55.00 to C$50.00 in a research note on Friday, November 14th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$50.00.

K-Bro Linen Stock Performance

The stock has a 50 day moving average of C$34.97 and a two-hundred day moving average of C$35.86. The stock has a market capitalization of C$480.32 million, a PE ratio of 21.84, a P/E/G ratio of 3.50 and a beta of 0.36. The company has a debt-to-equity ratio of 102.23, a current ratio of 2.08 and a quick ratio of 0.87.

Insider Activity at K-Bro Linen

In other news, insider Scott Ian Inglis sold 3,191 shares of the company’s stock in a transaction on Saturday, December 13th. The shares were sold at an average price of C$35.41, for a total transaction of C$112,993.31. Insiders own 3.25% of the company’s stock.

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.