K-Bro Linen (TSE:KBL) Share Price Passes Above 200-Day Moving Average – What’s Next?

K-Bro Linen Inc. (TSE:KBL)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$35.42 and traded as high as C$37.88. K-Bro Linen shares last traded at C$37.88, with a volume of 750 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KBL shares. Stifel Nicolaus raised their price objective on shares of K-Bro Linen from C$45.00 to C$46.00 in a report on Friday, November 15th. TD Securities raised their price target 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 Trading Down 1.7 %

The firm has a market cap of C$389.11 million, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 3.50 and a beta of 1.08. 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 company’s fifty day moving average price is C$36.53 and its two-hundred day moving average price is C$35.46.

K-Bro Linen Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, October 31st. K-Bro Linen’s dividend payout ratio (DPR) is currently 74.07%.

Insider Transactions at K-Bro Linen

In other K-Bro Linen news, Senior Officer Sean Philip Curtis sold 7,000 shares of the business’s stock in a transaction dated 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 three months. 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.