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

Blackline Safety Corp. (TSE:BLN) hit a new 52-week high on Tuesday . The company traded as high as C$6.40 and last traded at C$6.35, with a volume of 18876 shares changing hands. The stock had previously closed at C$6.14.

Analyst Ratings Changes

BLN has been the topic of several recent research reports. Raymond James lifted their price objective on shares of Blackline Safety from C$7.00 to C$8.00 in a research note on Thursday, September 19th. Ventum Cap Mkts upgraded Blackline Safety to a “strong-buy” rating in a research report on Wednesday, September 4th. Ventum Financial lifted their target price on Blackline Safety from C$6.50 to C$7.00 in a report on Thursday, September 12th. TD Securities upped their target price on Blackline Safety from C$6.00 to C$7.50 in a report on Thursday, September 12th. Finally, National Bankshares lifted their price target on Blackline Safety from C$6.00 to C$6.50 in a research note on Thursday, September 12th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$7.00.

Blackline Safety Trading Up 3.4 %

The company has a quick ratio of 3.09, a current ratio of 2.07 and a debt-to-equity ratio of 36.48. The firm has a market cap of C$518.60 million, a price-to-earnings ratio of -27.30 and a beta of 1.54. The company has a 50-day moving average price of C$6.89 and a 200 day moving average price of C$8.21.

About Blackline Safety

Blackline Safety Corp. develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, and internationally. It offers G6 zero-maintenance single-gas cloud-connected gas monitors, G7c safety wearable for indoor and outdoor locations covered by 4G wireless, G7x safety wearable for remote locations, and G7 EXO area gas monitors; field-replaceable cartridges; G7 Bridge, a portable satellite base station; G7 Dock and G6 Dock; accessories used to calibrate G6, G7c, and G7x devices; and Loner Mobile, a safety monitoring application for smartphones.