Stifel Nicolaus Forecasts Strong Price Appreciation for K-Bro Linen (TSE:KBL) Stock

K-Bro Linen (TSE:KBL) had its target price lifted by analysts at Stifel Nicolaus from C$45.00 to C$46.00 in a note issued to investors on Friday,BayStreet.CA reports. Stifel Nicolaus’ target price indicates a potential upside of 30.50% from the company’s previous close.

A number of other research analysts have also recently issued reports on KBL. TD Securities lifted their price objective on shares of K-Bro Linen from C$46.00 to C$48.00 in a research note on Friday. Raymond James boosted their target price on shares of K-Bro Linen from C$40.00 to C$45.00 in a research note on Thursday, August 8th.

K-Bro Linen Stock Performance

TSE:KBL traded up C$0.48 during mid-day trading on Friday, hitting C$35.25. The stock had a trading volume of 1,944 shares, compared to its average volume of 11,238. K-Bro Linen has a twelve month low of C$30.69 and a twelve month high of C$37.74. The stock has a market cap of C$368.72 million, a price-to-earnings ratio of 21.76, a PEG ratio of 3.50 and a beta of 1.08. The company’s 50 day simple moving average is C$34.72 and its 200 day simple moving average is C$34.50. The company has a debt-to-equity ratio of 107.82, a quick ratio of 0.87 and a current ratio of 1.80.

Insider Activity at K-Bro Linen

In other news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of C$36.01, for a total value of C$39,611.00. 3.25% of the stock is 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.