Blackline Safety (TSE:BLN) Sets New 1-Year High – Still a Buy?

Blackline Safety Corp. (TSE:BLN) shares hit a new 52-week high during trading on Thursday . The company 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 Analysts Forecast Growth

Several analysts recently weighed in on the company. Raymond James upped their price target on Blackline Safety from C$7.00 to C$8.00 in a research note on Thursday, September 19th. ATB Capital increased their target price on Blackline Safety from C$6.00 to C$7.50 in a research note on Thursday, September 12th. TD Securities lifted their price target on Blackline Safety from C$6.00 to C$7.50 in a research report on Thursday, September 12th. Ventum Financial upped their price target on shares of Blackline Safety from C$6.50 to C$7.00 in a research note on Thursday, September 12th. Finally, National Bankshares raised their price objective on shares of 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Blackline Safety has an average rating of “Buy” and a consensus price target of C$7.00.

Blackline Safety Stock Up 2.1 %

The company’s 50 day simple moving average is C$6.41 and its 200-day simple moving average is C$7.27. 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 firm has a market cap of C$562.71 million, a P/E ratio of -29.96 and a beta of 1.54.

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.