Blackline Safety (CVE:BLN) PT Lowered to C$10.00 at Raymond James

Blackline Safety (CVE:BLNGet Rating) had its target price cut by analysts at Raymond James from C$11.50 to C$10.00 in a report issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 12.11% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Blackline Safety from C$9.00 to C$8.50 in a research report on Thursday, March 17th. Pi Financial decreased their target price on Blackline Safety from C$11.00 to C$7.50 in a research note on Wednesday. TD Securities dropped their price target on Blackline Safety from C$11.50 to C$10.50 and set a “speculative buy” rating on the stock in a research report on Thursday, March 17th. Finally, National Bankshares decreased their price objective on Blackline Safety from C$10.00 to C$9.00 and set an “outperform” rating for the company in a research report on Thursday, March 17th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$9.10.

Shares of CVE:BLN traded down C$0.03 during midday trading on Wednesday, hitting C$8.92. The company had a trading volume of 15,300 shares, compared to its average volume of 23,527. The company has a current ratio of 3.72, a quick ratio of 3.09 and a debt-to-equity ratio of 2.72. Blackline Safety has a 12 month low of C$4.60 and a 12 month high of C$9.09. The firm has a fifty day simple moving average of C$8.92 and a 200 day simple moving average of C$8.92. The stock has a market cap of C$484.79 million and a price-to-earnings ratio of -42.88.

Blackline Safety (CVE:BLNGet Rating) last posted its earnings results on Wednesday, March 16th. The company reported C($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.09) by C($0.12). The firm had revenue of C$15.67 million during the quarter, compared to the consensus estimate of C$15.51 million. Equities analysts forecast that Blackline Safety will post -0.05 EPS for the current fiscal year.

In other Blackline Safety news, Director Cody Slater acquired 5,900 shares of Blackline Safety stock in a transaction dated Monday, May 16th. The stock was bought at an average cost of C$4.31 per share, for a total transaction of C$25,429.00. Following the purchase, the director now directly owns 1,463,790 shares in the company, valued at approximately C$6,308,934.90. In the last three months, insiders bought 27,500 shares of company stock worth $118,177.

About Blackline Safety (Get Rating)

Blackline Safety Corp., a global connected safety technology company, develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, Australia, New Zealand, and internationally. The company offers connected safety devices, including G7c, a safety wearable for indoor and outdoor locations covered by 3G wireless; G7x, a safety wearable for remote locations; G7 EXO, a cloud connected area monitor; G7 Dock, an accessory product used to calibrate G7c and G7x devices; standard cartridge for lone worker monitoring; diffusion cartridge for gas detection; pump cartridge for confined space entry and leak check gas detection services; and cloud-connected sensors that helps to customize gas detectors at work environments, as well as automated industrial contact tracing solutions.

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