K-Bro Linen (TSE:KBL) Sets New 12-Month High – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James lifted their price target on K-Bro Linen from C$40.00 to C$45.00 in a report on Thursday, August 8th. TD Securities upped their target price on K-Bro Linen from C$46.00 to C$48.00 in a report on Friday, November 15th. Finally, Stifel Nicolaus raised their price target on shares of K-Bro Linen from C$45.00 to C$46.00 in a report on Friday, November 15th.

K-Bro Linen Stock Up 1.4 %

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 business has a 50 day simple moving average of C$34.72 and a 200 day simple moving average of C$34.54. The stock has a market cap of C$392.25 million, a PE ratio of 22.93, a P/E/G ratio of 3.50 and a beta of 1.08.

K-Bro Linen Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.20%. K-Bro Linen’s dividend payout ratio is currently 74.07%.

Insiders Place Their Bets

In other news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of K-Bro Linen stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of C$36.01, for a total value of C$39,611.00. Insiders own 3.25% 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.