Blackline Safety (TSE:BLN) Hits New 12-Month High – Time to Buy?

Shares of Blackline Safety Corp. (TSE:BLN) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$9.07 and last traded at C$9.06, with a volume of 17265 shares. The stock had previously closed at C$9.05.

Analyst Ratings Changes

BLN has been the subject of several analyst reports. Raymond James Financial lowered shares of Blackline Safety from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$10.00 to C$9.38 in a research report on Friday, April 10th. Royal Bank Of Canada lowered Blackline Safety from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$9.00 to C$9.25 in a research report on Friday, May 22nd. Ventum Financial cut shares of Blackline Safety from a “buy” rating to a “tender” rating and boosted their price target for the company from C$8.25 to C$9.00 in a research report on Thursday, April 9th. Finally, TD cut Blackline Safety from a “hold” rating to a “sell” rating and upped their price target for the stock from C$8.00 to C$9.00 in a research note on Monday, April 13th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Blackline Safety presently has a consensus rating of “Hold” and an average target price of C$9.27.

Blackline Safety Stock Performance

The company has a market capitalization of C$792.19 million, a PE ratio of -82.36 and a beta of 0.99. The company has a current ratio of 1.89, a quick ratio of 3.09 and a debt-to-equity ratio of 17.76. The business’s fifty day moving average is C$8.98 and its two-hundred day moving average is C$7.57.

Blackline Safety (TSE:BLN) last released its quarterly earnings data on Wednesday, June 10th. The company reported C($0.04) EPS for the quarter. The business had revenue of C$44.29 million during the quarter. Blackline Safety had a negative return on equity of 13.09% and a negative net margin of 6.11%. Equities research analysts predict that Blackline Safety Corp. will post -0.05 earnings per share for the current year.

About Blackline Safety

Blackline Safety Corp is a connected safety monitoring technology company. It provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of people, having reported over 161 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, the company ensure that help is never too far away.