K-Bro Linen (TSE:KBL – Free Report) had its price target boosted by ATB Cormark Capital Markets from C$50.00 to C$55.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.
KBL has been the topic of several other reports. TD Securities upgraded K-Bro Linen to a “strong-buy” rating in a report on Friday, July 24th. TD increased their price objective on K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, National Bank Financial raised 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 equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, K-Bro Linen presently has a consensus rating of “Buy” and an average target price of C$53.17.
K-Bro Linen Stock Up 1.6%
K-Bro Linen (TSE:KBL – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported C$0.78 earnings per share (EPS) for the quarter. The business had revenue of C$150.36 million during the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. Sell-side 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 Jeffrey Ronald Gannon sold 1,225 shares of K-Bro Linen stock in a transaction on Wednesday, June 10th. The shares were 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 C$647,094. This trade represents a 7.37% decrease in their position. Also, insider K-Bro Linen Inc. bought 2,670 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of C$41.33 per share, with a total value of C$110,351.10. Following the transaction, the insider owned 343,321 shares in the company, valued at approximately C$14,189,456.93. The trade was a 0.78% increase in their ownership of the stock. Over the last ninety days, insiders have purchased 14,622 shares of company stock valued at $605,901. 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.
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