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

Shares of Blackline Safety Corp. (TSE:BLN) hit a new 52-week high during trading on Thursday . The stock traded as high as C$9.09 and last traded at C$9.08, with a volume of 42613 shares changing hands. The stock had previously closed at C$9.07.

Analyst Upgrades and Downgrades

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

Blackline Safety Trading Up 0.1%

The stock has a market capitalization of C$793.94 million, a PE ratio of -82.55 and a beta of 0.99. The firm has a 50-day moving average price of C$8.99 and a 200-day moving average price of C$7.62. The company has a current ratio of 1.89, a quick ratio of 3.09 and a debt-to-equity ratio of 17.76.

Blackline Safety (TSE:BLN) last issued its quarterly earnings results on Wednesday, June 10th. The company reported C($0.04) earnings per share for the quarter. The company 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%. As a group, equities analysts forecast that Blackline Safety Corp. will post -0.05 EPS for the current fiscal 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.