K-Bro Linen (TSE:KBL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

K-Bro Linen Inc. (TSE:KBL)’s share price passed 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 Analysts Forecast Growth

Several analysts recently issued reports on KBL shares. TD Securities increased their target price on K-Bro Linen from C$46.00 to C$48.00 in a research report on Friday, November 15th. Stifel Nicolaus upped 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.

K-Bro Linen Stock Performance

The company has a market capitalization of C$380.33 million, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 3.50 and a beta of 1.08. The business has a 50 day moving average of C$37.22 and a 200 day moving average of C$35.81. The company has a quick ratio of 0.87, a current ratio of 1.80 and a debt-to-equity ratio of 107.82.

Insider Activity

In other news, Senior Officer Sean Philip Curtis sold 4,100 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of C$39.75, for a total transaction of C$162,975.00. In the last ninety days, insiders sold 11,400 shares of company stock worth $437,047. 3.25% of the stock is currently owned by 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.