K-Bro Linen (TSE:KBL) Reaches New 12-Month High – Here’s What Happened

Shares of K-Bro Linen Inc. (TSE:KBL) reached a new 52-week high on Monday . The stock traded as high as C$38.19 and last traded at C$38.50, with a volume of 7343 shares traded. The stock had previously closed at C$38.15.

Wall Street Analyst Weigh In

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

K-Bro Linen Price Performance

The firm’s 50 day simple moving average is C$34.86 and its two-hundred day simple moving average is C$34.61. The firm has a market capitalization of C$405.33 million, a P/E ratio of 23.45, a P/E/G ratio of 3.50 and a beta of 1.08. The company has a debt-to-equity ratio of 107.82, a current ratio of 1.80 and a quick ratio of 0.87.

K-Bro Linen Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.10 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.20 annualized dividend and a yield of 3.10%. K-Bro Linen’s payout ratio is 74.07%.

Insiders Place Their Bets

In other news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of C$36.01, for a total transaction of C$39,611.00. 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.