K-Bro Linen Inc. (TSE:KBL – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$47.43 and last traded at C$47.09, with a volume of 7367 shares. The stock had previously closed at C$47.01.
Wall Street Analyst Weigh In
Several research analysts have commented on KBL shares. TD raised their price target on shares of 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. National Bank Financial set a C$51.00 price objective on K-Bro Linen and gave the stock an “outperform” rating in a research report on Friday, April 10th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, K-Bro Linen presently has a consensus rating of “Buy” and an average price target of C$51.00.
Check Out Our Latest Research Report on KBL
K-Bro Linen Price Performance
K-Bro Linen (TSE:KBL – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported C$0.36 earnings per share for the quarter. The company had revenue of C$139.11 million for the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%. Research analysts expect that K-Bro Linen Inc. will post 2.3389262 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Jeffrey Ronald Gannon sold 1,225 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 15,407 shares in the company, valued at approximately C$647,094. The trade was a 7.37% decrease in their position. Also, insider K-Bro Linen Inc. acquired 5,341 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of C$41.25 per share, with a total value of C$220,316.25. Following 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 have acquired 14,622 shares of company stock worth $605,901 over the last quarter. Company 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.
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