K-Bro Linen (TSE:KBL) Stock Price Expected to Rise, National Bank Financial Analyst Says

K-Bro Linen (TSE:KBL) had its target price upped by equities research analysts at National Bank Financial from C$51.00 to C$54.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 11.04% from the company’s previous close.

A number of other research firms have also recently commented on KBL. TD boosted their price target on K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. TD Securities upgraded K-Bro Linen to a “strong-buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, K-Bro Linen presently has a consensus rating of “Buy” and a consensus price target of C$52.00.

K-Bro Linen Stock Up 2.6%

TSE:KBL traded up C$1.23 on Tuesday, reaching C$48.63. 16,921 shares of the stock traded hands, compared to its average volume of 18,737. K-Bro Linen has a 12 month low of C$33.30 and a 12 month high of C$48.69. The company’s fifty day simple moving average is C$43.62 and its 200 day simple moving average is C$38.68. 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 has a market capitalization of C$627.42 million, a price-to-earnings ratio of 30.20, a PEG ratio of 3.50 and a beta of 0.89.

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

Insider Buying and Selling

In related news, insider Jeffrey Ronald Gannon sold 1,225 shares of the 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 transaction, the insider owned 15,407 shares in the company, valued at approximately C$647,094. This represents a 7.37% decrease in their position. Also, insider K-Bro Linen Inc. acquired 2,670 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of C$41.33 per share, with a total value of C$110,351.10. Following the acquisition, the insider owned 343,321 shares in the company, valued at approximately C$14,189,456.93. This trade represents a 0.78% increase in their ownership of the stock. In the last quarter, insiders purchased 14,622 shares of company stock worth $605,901. 3.25% of the stock is owned by insiders.

K-Bro Linen Company Profile

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.