K-Bro Linen (TSE:KBL) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

K-Bro Linen Inc. (TSE:KBL) crossed 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 traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KBL shares. Stifel Nicolaus upped their price objective on K-Bro Linen from C$45.00 to C$46.00 in a research note on Friday, November 15th. TD Securities increased their price target on 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 firm has a market cap of C$403.86 million, a price-to-earnings ratio of 23.83, 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 stock’s 50 day moving average is C$36.04 and its 200 day moving average is C$35.19.

K-Bro Linen Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Thursday, October 31st. K-Bro Linen’s payout ratio is 74.07%.

Insider Transactions at K-Bro Linen

In other K-Bro Linen news, Senior Officer Sean Philip Curtis sold 7,000 shares of K-Bro Linen 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. Over the last quarter, insiders have sold 11,400 shares of company stock worth $437,047. Company insiders own 3.25% of the company’s stock.

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.