K-Bro Linen (TSE:KBL) Share Price Passes Above 200-Day Moving Average – Here’s Why

K-Bro Linen Inc. (TSE:KBL – Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$41.41 and traded as high as C$42.50. K-Bro Linen shares last traded at C$42.35, with a volume of 11,782 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KBL shares. 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 report on Tuesday, July 28th. Raymond James Financial lifted their price target on K-Bro Linen from C$50.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. TD Securities raised shares of K-Bro Linen to a “strong-buy” rating in a report on Friday, July 24th. ATB Cormark Capital Markets lifted their target price on shares of K-Bro Linen from C$50.00 to C$55.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Stifel Nicolaus increased their price target on K-Bro Linen from C$52.00 to C$54.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, K-Bro Linen has an average rating of “Buy” and an average target price of C$53.17.

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K-Bro Linen Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.85 and a debt-to-equity ratio of 113.71. The company has a market cap of C$534.97 million, a PE ratio of 24.32, a P/E/G ratio of 3.50 and a beta of 0.91. The stock has a 50-day simple moving average of C$45.63 and a 200 day simple moving average of C$41.44.

K-Bro Linen (TSE:KBL – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported C$0.78 earnings per share (EPS) for the quarter. The company had revenue of C$150.36 million for the quarter. K-Bro Linen had a net margin of 3.67% and a return on equity of 7.89%. Equities analysts expect that K-Bro Linen Inc. will post 2.3389262 EPS for the current year.

K-Bro Linen Company Profile

(Get Free Report)

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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