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

K-Bro Linen (TSE:KBL) had its price objective upped by Stifel Nicolaus from C$52.00 to C$54.00 in a research report report published on Thursday,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts have also weighed in on KBL. Raymond James Financial boosted their price objective on shares of K-Bro Linen from C$50.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Thursday. ATB Cormark Capital Markets lifted their price target on K-Bro Linen from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Thursday. TD lifted their price target on 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 raised K-Bro Linen to a “strong-buy” rating in a research report on Friday, July 24th. Finally, National Bank Financial upped their price objective on K-Bro Linen from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$53.17.

K-Bro Linen Price Performance

Shares of KBL opened at C$47.06 on Thursday. The company has a market cap of C$607.17 million, a price-to-earnings ratio of 29.23, a PEG ratio of 3.50 and a beta of 0.89. K-Bro Linen has a 1-year low of C$33.30 and a 1-year high of C$48.69. The company’s fifty day simple moving average is C$44.68 and its 200 day simple moving average is C$39.44. The company has a current ratio of 1.87, a quick ratio of 0.87 and a debt-to-equity ratio of 116.44.

K-Bro Linen (TSE:KBL) last posted its quarterly earnings results on Tuesday, August 4th. The company reported C$0.78 earnings per share (EPS) for the quarter. The firm had revenue of C$150.36 million for the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. On average, research analysts forecast that K-Bro Linen will post 2.3389262 earnings per share for the current fiscal year.

Insider Buying and Selling at K-Bro Linen

In related news, insider K-Bro Linen Inc. acquired 5,341 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of C$41.25 per share, for a total transaction of C$220,316.25. Following the completion of the acquisition, 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 ownership of the stock. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$42.00, for a total transaction of C$51,450.00. Following the completion of the transaction, the insider directly owned 15,407 shares in the company, valued at C$647,094. The trade was a 7.37% decrease in their ownership of the stock. Over the last quarter, insiders acquired 14,622 shares of company stock worth $605,901. Corporate insiders own 3.25% of the company’s stock.

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.