K-Bro Linen (TSE:KBL) Reaches New 52-Week High – Here’s Why

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

Analysts Set New Price Targets

KBL has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of K-Bro Linen from C$45.00 to C$46.00 in a research note on Friday, November 15th. Raymond James raised their target price on shares of K-Bro Linen from C$40.00 to C$45.00 in a research note on Thursday, August 8th. Finally, TD Securities lifted their price target on K-Bro Linen from C$46.00 to C$48.00 in a report on Friday, November 15th.

K-Bro Linen Stock Up 0.1 %

The company has a debt-to-equity ratio of 107.82, a quick ratio of 0.87 and a current ratio of 1.80. The firm has a fifty day simple moving average of C$34.78 and a 200-day simple moving average of C$34.57. The firm has a market cap of C$397.48 million, a price-to-earnings ratio of 23.44, a P/E/G ratio of 3.50 and a beta of 1.08.

K-Bro Linen Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, October 31st. K-Bro Linen’s payout ratio is 74.07%.

Insider Activity at K-Bro Linen

In other 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 transaction of C$39,611.00. 3.25% of the stock is owned by company insiders.

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.