K-Bro Linen (TSE:KBL) Reaches New 52-Week High at $37.39

K-Bro Linen Inc. (TSE:KBL)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$37.39 and last traded at C$36.73, with a volume of 3013 shares. The stock had previously closed at C$37.56.

Wall Street Analyst Weigh In

KBL has been the subject of several analyst reports. Acumen Capital upped their target price on K-Bro Linen from C$46.00 to C$47.50 and gave the company a “buy” rating in a research note on Wednesday, May 1st. TD Securities boosted their target price on shares of K-Bro Linen from C$45.00 to C$46.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, 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 Trading Down 2.4 %

The firm has a market cap of C$383.57 million, a P/E ratio of 22.67, a P/E/G ratio of 3.50 and a beta of 1.10. 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 moving average of C$34.52 and a 200-day moving average of C$34.31.

K-Bro Linen (TSE:KBL) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$0.59 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.51 by C$0.08. The business had revenue of C$93.47 million for the quarter, compared to analysts’ expectations of C$88.57 million. K-Bro Linen had a net margin of 5.03% and a return on equity of 9.76%. Equities research analysts forecast that K-Bro Linen Inc. will post 1.9897795 earnings per share for the current year.

K-Bro Linen Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, September 13th. Shareholders of record on Saturday, August 31st will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Friday, August 30th. K-Bro Linen’s payout ratio is 74.07%.

Insider Activity at K-Bro Linen

In other news, Senior Officer Ryo Utahara sold 1,400 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$32.40, for a total transaction of C$45,360.00. Company insiders own 3.27% of the company’s stock.

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.