K-Bro Linen (TSE:KBL) Shares Cross Above 200 Day Moving Average - Here's Why

Shares of K-Bro Linen Inc. (TSE:KBL - Get Free Report) 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.

Wall Street Analyst Weigh In

KBL has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on K-Bro Linen from C$45.00 to C$46.00 in a research report on Friday, November 15th. TD Securities upped their price objective on K-Bro Linen from C$46.00 to C$48.00 in a report on Friday, November 15th.

K-Bro Linen Price Performance

The company has a market capitalization of C$380.33 million, a PE ratio of 22.44, a price-to-earnings-growth ratio of 3.50 and a beta of 1.08. The company has a quick ratio of 0.87, a current ratio of 1.80 and a debt-to-equity ratio of 107.82. The firm's 50 day simple moving average is C$37.22 and its 200 day simple moving average is C$35.81.

Insider Buying and Selling

In related news, Senior Officer Sean Philip Curtis sold 7,000 shares of the business's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of C$37.45, for a total transaction of C$262,150.00. In the last ninety days, insiders sold 11,400 shares of company stock valued at $437,047. Company insiders own 3.25% of the company's stock.

About K-Bro Linen

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.