K-Bro Linen Inc. Purchases 2,670 Shares of K-Bro Linen (TSE:KBL) Stock

K-Bro Linen Inc. (TSE:KBL) insider K-Bro Linen Inc. purchased 2,670 shares of K-Bro Linen stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of C$41.33 per share, for a total transaction of C$110,351.10. Following the completion of the transaction, the insider owned 343,321 shares of the company’s stock, valued at C$14,189,456.93. This represents a 0.78% increase in their ownership of the stock.

K-Bro Linen Inc. also recently made the following trade(s):

• On Tuesday, May 26th, K-Bro Linen Inc. purchased 4,541 shares of K-Bro Linen stock. The shares were acquired at an average cost of C$41.83 per share, for a total transaction of C$189,950.03.
• On Wednesday, May 27th, K-Bro Linen Inc. purchased 5,341 shares of K-Bro Linen stock. The shares were acquired at an average cost of C$41.25 per share, for a total transaction of C$220,316.25.
• On Thursday, May 28th, K-Bro Linen Inc. purchased 2,070 shares of K-Bro Linen stock. The shares were acquired at an average cost of C$41.20 per share, for a total transaction of C$85,284.00.

K-Bro Linen Trading Down 1.9%

Shares of KBL stock opened at C$40.85 on Thursday. The stock has a market cap of C$527.05 million, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. The company has a quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44. K-Bro Linen Inc. has a fifty-two week low of C$33.30 and a fifty-two week high of C$42.69. The firm’s 50 day moving average price is C$38.24 and its two-hundred day moving average price is C$36.21.

K-Bro Linen (TSE:KBL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.36 earnings per share for the quarter. The firm had revenue of C$139.11 million for the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. On average, analysts anticipate that K-Bro Linen Inc. will post 2.3389262 EPS for the current year.

Analyst Upgrades and Downgrades

KBL has been the topic of a number of analyst reports. TD lifted their price objective on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. National Bank Financial set a C$51.00 price objective on shares of K-Bro Linen and gave the company an “outperform” rating in a research note on Friday, April 10th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$50.75.

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.