K-Bro Linen (TSE:KBL) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

K-Bro Linen Inc. (TSE:KBL)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$35.19 and traded as high as C$38.61. K-Bro Linen shares last traded at C$38.61, with a volume of 966 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on KBL shares. Stifel Nicolaus lifted their target price on shares of K-Bro Linen from C$45.00 to C$46.00 in a research report on Friday, November 15th. TD Securities boosted their price objective on shares of K-Bro Linen from C$46.00 to C$48.00 in a research note on Friday, November 15th.

K-Bro Linen Stock Performance

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 stock’s 50 day moving average price is C$36.04 and its 200 day moving average price is C$35.19. The company has a market capitalization of C$403.86 million, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 3.50 and a beta of 1.08.

K-Bro Linen Dividend Announcement

The firm also recently declared 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 yield of 3.11%. K-Bro Linen’s payout ratio is currently 74.07%.

Insider Activity

In other news, Senior Officer Sean Philip Curtis sold 7,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of C$37.45, for a total value of C$262,150.00. Insiders have sold 11,400 shares of company stock valued at $437,047 in the last ninety days. 3.25% of the stock is owned by company 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.