K-Bro Linen (TSE:KBL) had its target price reduced by National Bank Financial from C$41.00 to C$40.00 in a research report report published on Tuesday. They currently have an outperform rating on the stock.
A number of other research firms have also issued reports on KBL. Cormark reaffirmed a market perform rating and set a C$38.00 target price on shares of K-Bro Linen in a report on Friday, July 27th. TD Securities cut K-Bro Linen from a buy rating to a hold rating and dropped their price target for the stock from C$45.00 to C$40.00 in a research note on Tuesday, November 13th.
TSE:KBL opened at C$34.56 on Tuesday. K-Bro Linen has a 52-week low of C$33.04 and a 52-week high of C$43.04. The company has a debt-to-equity ratio of 33.81, a current ratio of 2.08 and a quick ratio of 1.22.
The business also recently declared a monthly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 31st were paid a $0.10 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.47%. K-Bro Linen’s dividend payout ratio is currently 321.72%.
In related news, insider Sean Philip Curtis sold 15,000 shares of K-Bro Linen stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of C$39.10, for a total value of C$586,500.00. Also, insider Ronald James Graham sold 1,900 shares of K-Bro Linen stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of C$37.73, for a total value of C$71,687.00. Insiders sold a total of 54,817 shares of company stock worth $2,122,315 in the last three months.
About K-Bro Linen
K-Bro Linen Inc, together with its subsidiaries, engages in the processing, management, and distribution of general linen and operating room linen to healthcare institutions, hotels, and other commercial accounts in Canada. It provides laundry and linen services for sheets, blankets, towels, tablecloths, surgical gowns and drapes, and other linen.
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