K-Bro Linen (TSE:KBL – Get Free Report) posted its earnings results on Tuesday. The company reported C$0.78 earnings per share for the quarter, FiscalAI reports. 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.
K-Bro Linen Stock Up 0.8%
TSE KBL traded up C$0.37 during trading hours on Thursday, hitting C$46.63. 1,263 shares of the company traded hands, compared to its average volume of 18,369. The stock has a market capitalization of C$601.62 million, a price-to-earnings ratio of 28.96, a P/E/G ratio of 3.50 and a beta of 0.89. The company has a debt-to-equity ratio of 116.44, a quick ratio of 0.87 and a current ratio of 1.87. K-Bro Linen has a twelve month low of C$33.30 and a twelve month high of C$48.69. The business’s 50-day moving average is C$44.46 and its 200-day moving average is C$39.31.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on KBL shares. National Bank Financial raised their target price 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. TD raised their target price 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. 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 two have assigned a Buy rating to the stock. Based on data from MarketBeat, K-Bro Linen has a consensus rating of “Buy” and a consensus price target of C$52.00.
Insider Transactions at K-Bro Linen
In other news, insider K-Bro Linen Inc. acquired 5,341 shares of the stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of C$41.25 per share, for a total transaction of C$220,316.25. Following the purchase, the insider directly owned 338,581 shares of the company’s stock, 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 business’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 directly owned 15,407 shares in the company, valued at approximately C$647,094. This trade represents a 7.37% decrease in their position. In the last three months, insiders bought 14,622 shares of company stock valued at $605,901. 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.
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