K Bro Linen (KBL) Sets New 52-Week Low at $35.78

Shares of K Bro Linen Inc (TSE:KBL) reached a new 52-week low on Monday . The company traded as low as C$35.78 and last traded at C$35.78, with a volume of 2273 shares trading hands. The stock had previously closed at C$36.23.

A number of analysts have weighed in on the stock. National Bank Financial reduced their price objective on shares of K Bro Linen from C$46.00 to C$43.00 and set an “outperform” rating for the company in a research note on Friday, March 16th. Laurentian upgraded shares of K Bro Linen from a “hold” rating to a “buy” rating in a research note on Friday, March 16th. Finally, TD Securities raised their price objective on shares of K Bro Linen from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Friday, December 15th.

K Bro Linen (TSE:KBL) last announced its quarterly earnings results on Wednesday, March 14th. The company reported C$0.16 EPS for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.17). K Bro Linen had a return on equity of 7.97% and a net margin of 7.84%. The company had revenue of C$47.51 million during the quarter, compared to the consensus estimate of C$46.70 million.

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About K Bro Linen

K Bro Linen Inc is a Canada-based owner and operator of laundry and linen processing facilities. The Company provides laundry and linen services to healthcare institutions, hotels and other commercial accounts. The Company’s services include the processing, management and distribution of general and operating room linens (K Bro Operating Room (KOR) Services), including sheets, blankets, towels, tablecloths, surgical gowns and drapes, and other types of linen.

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