K-Bro Linen (TSE:KBL) Stock Price Crosses Above 200-Day Moving Average of $34.57

Shares of K-Bro Linen Inc. (TSE:KBL) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$34.57 and traded as high as C$36.50. K-Bro Linen shares last traded at C$36.14, with a volume of 11,880 shares trading hands.

Analyst Ratings Changes

Separately, Raymond James lifted their price objective on K-Bro Linen from C$40.00 to C$45.00 in a report on Thursday, August 8th.

K-Bro Linen Price Performance

The firm has a market cap of C$370.39 million, a PE ratio of 22.53, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 1.80 and a debt-to-equity ratio of 107.82. The stock has a 50 day moving average price of C$35.81 and a two-hundred day moving average price of C$34.59.

K-Bro Linen (TSE:KBL) last issued its earnings results on Tuesday, August 6th. The company reported C$0.59 EPS for the quarter, beating analysts’ consensus estimates of C$0.51 by C$0.08. The firm had revenue of C$93.47 million for the quarter, compared to analyst estimates of C$88.57 million. K-Bro Linen had a return on equity of 9.76% and a net margin of 5.03%. As a group, equities analysts expect that K-Bro Linen Inc. will post 2.3401929 earnings per share for the current year.

K-Bro Linen Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.39%. K-Bro Linen’s dividend payout ratio is currently 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 the business’s stock in a transaction that occurred 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. 3.25% of the stock is currently owned by corporate 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.