K-Bro Linen (TSE:KBL) Reaches New 12-Month High – Still a Buy?

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. The stock had previously closed at C$38.15.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KBL. Raymond James boosted their price objective on K-Bro Linen from C$40.00 to C$45.00 in a report on Thursday, August 8th. TD Securities increased their target price on K-Bro Linen from C$46.00 to C$48.00 in a research note on Friday, November 15th. Finally, Stifel Nicolaus increased their price objective on K-Bro Linen from C$45.00 to C$46.00 in a research report on Friday, November 15th.

K-Bro Linen Trading Up 1.7 %

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 market cap of C$418.61 million, a PE ratio of 24.14, a P/E/G ratio of 3.50 and a beta of 1.08. The company has a 50 day simple moving average of C$34.93 and a two-hundred day simple moving average of C$34.64.

K-Bro Linen Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.00%. K-Bro Linen’s payout ratio is currently 74.07%.

Insider Buying and Selling

In other K-Bro Linen news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of K-Bro Linen 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 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.