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

Shares of K-Bro Linen Inc. (TSE:KBL) hit 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.

Wall Street Analyst Weigh In

KBL has been the subject of several recent research reports. Raymond James upped their target price on shares of K-Bro Linen from C$40.00 to C$45.00 in a research report on Thursday, August 8th. Stifel Nicolaus boosted their target price on K-Bro Linen from C$45.00 to C$46.00 in a research report on Friday, November 15th. Finally, TD Securities increased their price target on shares of K-Bro Linen from C$46.00 to C$48.00 in a research report on Friday, November 15th.

K-Bro Linen Price Performance

The company has a 50 day moving average of C$34.78 and a 200 day moving average of C$34.57. The company has a current ratio of 1.80, a quick ratio of 0.87 and a debt-to-equity ratio of 107.82. The firm has a market cap of C$397.48 million, a price-to-earnings ratio of 23.44, 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 given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Thursday, October 31st. K-Bro Linen’s dividend 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 the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of C$36.01, for a total transaction of C$39,611.00. 3.25% of the stock is 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.