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

Blackline Safety Corp. (TSE:BLN)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$6.87 and last traded at C$6.84, with a volume of 26357 shares traded. The stock had previously closed at C$6.83.

Wall Street Analyst Weigh In

A number of analysts recently commented on BLN shares. Raymond James increased their price objective on Blackline Safety from C$7.00 to C$8.00 in a research note on Thursday, September 19th. ATB Capital boosted their target price on shares of Blackline Safety from C$6.00 to C$7.50 in a report on Thursday, September 12th. Ventum Cap Mkts raised shares of Blackline Safety to a “strong-buy” rating in a research note on Wednesday, September 4th. National Bankshares upped their price objective on Blackline Safety from C$6.00 to C$6.50 in a report on Thursday, September 12th. Finally, TD Securities upped their price target on Blackline Safety from C$6.00 to C$7.50 in a research note on Thursday, September 12th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$7.00.

Blackline Safety Stock Performance

The company has a current ratio of 2.07, a quick ratio of 3.09 and a debt-to-equity ratio of 36.48. The company has a market cap of C$557.81 million, a price-to-earnings ratio of -29.70 and a beta of 1.54. The firm has a 50-day moving average price of C$6.39 and a 200 day moving average price of C$7.29.

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.