K-Bro Linen (TSE:KBL) Upgraded by TD Securities to “Strong-Buy” Rating

TD Securities upgraded shares of K-Bro Linen (TSE:KBL – Free Report) to a strong-buy rating in a report published on Friday,Zacks.com reports.

KBL has been the topic of several other research reports. TD boosted 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 research report on Thursday, May 7th. National Bank Financial set a C$51.00 price objective on shares of K-Bro Linen and gave the stock an “outperform” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, K-Bro Linen currently has an average rating of “Buy” and a consensus price target of C$51.00.

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K-Bro Linen Stock Up 0.8%

Shares of K-Bro Linen stock opened at C$47.49 on Friday. The company has a current ratio of 1.87, a quick ratio of 0.87 and a debt-to-equity ratio of 116.44. The company’s fifty day simple moving average is C$43.47 and its two-hundred day simple moving average is C$38.57. The company has a market cap of C$612.72 million, a P/E ratio of 29.50, a PEG ratio of 3.50 and a beta of 0.89. K-Bro Linen has a 12-month low of C$33.30 and a 12-month high of C$47.85.

K-Bro Linen (TSE:KBL – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$0.36 EPS for the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. The business had revenue of C$139.11 million during the quarter. Research analysts anticipate that K-Bro Linen will post 2.3389262 EPS for the current year.

Insider Buying and Selling at K-Bro Linen

In other K-Bro Linen news, insider Jeffrey Ronald Gannon sold 1,225 shares of the stock in a transaction 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 completion of the transaction, the insider owned 15,407 shares in the company, valued at approximately C$647,094. This represents a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. acquired 2,670 shares of the 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 directly owned 343,321 shares of the company’s stock, valued at approximately C$14,189,456.93. This trade represents a 0.78% increase in their position. Over the last ninety days, insiders purchased 14,622 shares of company stock worth $605,901. 3.25% of the stock is owned by insiders.

About K-Bro Linen

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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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