The stock of K Bro Linen Inc (TSE:KBL) hit a new 52-week low and has $34.52 target or 10.00% below today’s $38.35 share price. The 6 months bearish chart indicates high risk for the $309.78 million company. The 1-year low was reported on Nov, 15 by Barchart.com. If the $34.52 price target is reached, the company will be worth $30.98M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 20,021 shares traded hands or 62.23% up from the average. K Bro Linen Inc (TSE:KBL) has declined 12.22% since April 11, 2016 and is downtrending. It has underperformed by 16.15% the S&P500.
K Bro Linen Inc (TSE:KBL) Ratings Coverage
Out of 2 analysts covering K-Bro Linen (TSE:KBL), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $54 is the highest target while $52 is the lowest. The $53 average target is 38.20% above today’s ($38.35) stock price. K-Bro Linen has been the topic of 2 analyst reports since February 4, 2016 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, September 9 by TD Securities.
Another recent and important K Bro Linen Inc (TSE:KBL) news was published by Marketwired.com which published an article titled: “K-Bro Linen Inc. Announces $25 Million Equity Offering” on November 18, 2014.
K Bro Linen Inc is a Canada-based owner and operator of laundry and linen processing facilities. The company has a market cap of $309.78 million. The Firm provides laundry and linen services to healthcare institutions, hotels and other commercial accounts. It has a 25.6 P/E ratio. The Company’s services include the processing, management and distribution of general and operating room linens Services), including sheets, blankets, towels, tablecloths, surgical gowns and drapes, and other types of linen.
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