K-Bro Linen (TSE:KBL) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of K-Bro Linen Inc. (TSE:KBL) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$35.42 and traded as high as C$37.88. K-Bro Linen shares last traded at C$37.88, with a volume of 750 shares changing hands.

Analyst Upgrades and Downgrades

KBL has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on K-Bro Linen from C$45.00 to C$46.00 in a research note on Friday, November 15th. TD Securities raised their target price on K-Bro Linen from C$46.00 to C$48.00 in a research note on Friday, November 15th.

K-Bro Linen Stock Performance

The firm has a 50 day simple moving average of C$36.47 and a 200-day simple moving average of C$35.42. The company has a debt-to-equity ratio of 107.82, a current ratio of 1.80 and a quick ratio of 0.87. The company has a market cap of C$396.22 million, a price-to-earnings ratio of 23.38, a PEG ratio of 3.50 and a beta of 1.08.

K-Bro Linen Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.10 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.17%. K-Bro Linen’s payout ratio is presently 74.07%.

Insider Activity

In other news, Senior Officer Sean Philip Curtis sold 4,100 shares of K-Bro Linen stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of C$39.75, for a total value of C$162,975.00. Over the last ninety days, insiders sold 11,400 shares of company stock valued at $437,047. 3.25% of the stock is currently owned by corporate insiders.

About K-Bro Linen

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.