Blackline Safety (TSE:BLN) Hits New 52-Week High – Time to Buy?

Blackline Safety Corp. (TSE:BLN)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$9.06 and last traded at C$9.05, with a volume of 288468 shares. The stock had previously closed at C$9.01.

Analyst Ratings Changes

Several equities analysts recently weighed in on BLN shares. TD downgraded Blackline Safety from a “hold” rating to a “sell” rating and lifted their target price for the company from C$8.00 to C$9.00 in a research report on Monday, April 13th. Ventum Financial downgraded Blackline Safety from a “buy” rating to a “tender” rating and raised their price objective for the stock from C$8.25 to C$9.00 in a research note on Thursday, April 9th. Royal Bank Of Canada cut Blackline Safety from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$9.00 to C$9.25 in a research report on Friday, May 22nd. Finally, Raymond James Financial downgraded Blackline Safety from an “outperform” rating to a “market perform” rating and cut their price objective for the company from C$10.00 to C$9.38 in a research note on Friday, April 10th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$9.27.

Blackline Safety Stock Performance

The company has a market cap of C$790.44 million, a PE ratio of -82.18 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 50 day moving average is C$8.86 and its two-hundred day moving average is C$7.46.

Blackline Safety (TSE:BLN) last issued its quarterly earnings results on Wednesday, June 10th. The company reported C($0.04) earnings per share (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%. On average, equities research analysts anticipate that Blackline Safety Corp. will post -0.05 EPS 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.