K-Bro Linen (TSE:KBL) Sets New 12-Month High – What’s Next?

K-Bro Linen Inc. (TSE:KBL) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$38.49 and last traded at C$37.50, with a volume of 95598 shares changing hands. The stock had previously closed at C$37.00.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Raymond James upped their price target on K-Bro Linen from C$40.00 to C$45.00 in a report on Thursday, August 8th. Stifel Nicolaus raised their target price on K-Bro Linen from C$45.00 to C$46.00 in a research report on Friday, November 15th. Finally, TD Securities lifted their price target on shares of K-Bro Linen from C$46.00 to C$48.00 in a research note on Friday, November 15th.

K-Bro Linen Stock Up 1.4 %

The company has a market capitalization of C$392.25 million, a price-to-earnings ratio of 22.93, a P/E/G ratio of 3.50 and a beta of 1.08. The business has a fifty day simple moving average of C$34.72 and a two-hundred day simple moving average of C$34.54. The company has a quick ratio of 0.87, a current ratio of 1.80 and a debt-to-equity ratio of 107.82.

K-Bro Linen Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, October 31st. K-Bro Linen’s dividend payout ratio is 74.07%.

Insider Buying and Selling at K-Bro Linen

In other K-Bro Linen news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of K-Bro Linen stock in a transaction on Thursday, September 19th. The stock was sold at an average price of C$36.01, for a total value of C$39,611.00. Company insiders own 3.25% of the company’s stock.

K-Bro Linen Company Profile

K-Bro Linen Inc, together with its subsidiaries, provides laundry and linen services to healthcare institutions, hotels, and other commercial organizations in Canada and the United Kingdom. Its services include processing, management, and distribution of general and operating room linens, such as sheets, blankets, towels, surgical gowns, tablecloths, and drapes and other linens.