K-Bro Linen (TSE:KBL) Shares Cross Above 200 Day Moving Average of $38.91

Shares of K-Bro Linen Inc (TSE:KBL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.91 and traded as high as $40.28. K-Bro Linen shares last traded at $39.78, with a volume of 1,330 shares trading hands.

A number of brokerages recently commented on KBL. Cormark upped their price target on shares of K-Bro Linen from C$47.00 to C$50.00 in a research note on Friday, August 9th. Raymond James reiterated an “outperform” rating and issued a C$45.00 target price on shares of K-Bro Linen in a research note on Tuesday, November 12th.

The company has a debt-to-equity ratio of 58.57, a quick ratio of 1.02 and a current ratio of 1.74. The firm has a market capitalization of $420.68 million and a PE ratio of 43.54. The company’s 50 day simple moving average is C$38.18 and its 200-day simple moving average is C$38.91.

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, October 30th. K-Bro Linen’s dividend payout ratio is presently 130.29%.

K-Bro Linen Company Profile (TSE:KBL)

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. The company also offers other services, including bulk dock-to-dock, exchange cart preparation, delivery of carts, surgical linen, distribution and control of employee uniforms, personal clothing, customer reporting, customer service visiting, and textile procurement services.

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