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

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

Wall Street Analysts Forecast Growth

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

Blackline Safety Trading Up 0.1%

The firm’s 50-day moving average price is C$8.99 and its 200-day moving average price is C$7.62. The company has a quick ratio of 3.09, a current ratio of 1.89 and a debt-to-equity ratio of 17.76. The company has a market cap of C$793.94 million, a P/E ratio of -82.55 and a beta of 0.99.

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%. As a group, equities research analysts expect that Blackline Safety Corp. will post -0.05 earnings per share for the current fiscal 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.