Blackline Safety (TSE:BLN) Reaches New 1-Year High – Still a Buy?

Blackline Safety Corp. (TSE:BLN)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$9.04 and last traded at C$9.03, with a volume of 38576 shares trading hands. The stock had previously closed at C$9.00.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Ventum Financial downgraded shares of Blackline Safety from a “buy” rating to a “tender” rating and boosted their price objective for the stock from C$8.25 to C$9.00 in a research report on Thursday, April 9th. Raymond James Financial downgraded shares of Blackline Safety from an “outperform” rating to a “market perform” rating and dropped their target price for the company from C$10.00 to C$9.38 in a research report on Friday, April 10th. Finally, TD cut shares of Blackline Safety from a “hold” rating to a “sell” rating and boosted their price target for the company from C$8.00 to C$9.00 in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Blackline Safety has an average rating of “Hold” and an average target price of C$9.23.

Blackline Safety Stock Up 0.3%

The company has a debt-to-equity ratio of 17.78, a quick ratio of 3.09 and a current ratio of 2.02. The company has a market capitalization of C$783.21 million, a PE ratio of -75.00 and a beta of 0.87. The firm’s 50-day simple moving average is C$7.76 and its 200 day simple moving average is C$7.08.

Blackline Safety (TSE:BLN) last announced its earnings results on Thursday, March 12th. The company reported C($0.03) earnings per share for the quarter. Blackline Safety had a negative net margin of 6.83% and a negative return on equity of 13.41%. The firm had revenue of C$38.85 million during the quarter. As a group, equities research analysts forecast that Blackline Safety Corp. will post -0.05 earnings per share for the current year.

Blackline Safety Company Profile

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.