K-Bro Linen (TSE:KBL) Shares Pass Above 200-Day Moving Average – Here’s What Happened

K-Bro Linen Inc. (TSE:KBL)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$35.81 and traded as high as C$36.36. K-Bro Linen shares last traded at C$36.36, with a volume of 11,185 shares changing hands.

Wall Street Analyst Weigh In

KBL has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on shares of K-Bro Linen from C$45.00 to C$46.00 in a research note on Friday, November 15th. TD Securities upped their price objective on 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 firm has a market capitalization of C$380.33 million, a P/E ratio of 22.44, a P/E/G ratio of 3.50 and a beta of 1.08. The stock’s 50 day simple moving average is C$37.22 and its 200 day simple moving average is C$35.81. The company has a debt-to-equity ratio of 107.82, a quick ratio of 0.87 and a current ratio of 1.80.

Insider Buying and Selling

In other K-Bro Linen news, Senior Officer Sean Philip Curtis sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of C$37.45, for a total transaction of C$262,150.00. Insiders have sold a total of 11,400 shares of company stock valued at $437,047 over the last quarter. 3.25% of the stock is owned by corporate insiders.

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.