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

K-Bro Linen Inc. (TSE:KBL) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Stifel Nicolaus boosted their price target on K-Bro Linen from C$45.00 to C$46.00 in a research note on Friday, November 15th. TD Securities boosted their target price on shares of 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 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 has a 50 day moving average of C$36.53 and a two-hundred day moving average of C$35.46. The firm has a market capitalization of C$389.11 million, a P/E ratio of 22.96, a P/E/G ratio of 3.50 and a beta of 1.08.

K-Bro Linen Dividend Announcement

The company 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. This represents a $1.20 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, October 31st. K-Bro Linen’s dividend payout ratio (DPR) is 74.07%.

Insider Transactions at K-Bro Linen

In related 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 transaction of C$262,150.00. Over the last ninety days, 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.