Pi Financial Cuts Blackline Safety (CVE:BLN) Price Target to C$7.50

Blackline Safety (CVE:BLN – Get Rating) had its price target lowered by investment analysts at Pi Financial from C$11.00 to C$7.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. Pi Financial’s price objective would indicate a potential downside of 15.92% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Blackline Safety from C$9.00 to C$8.50 in a research note on Thursday, March 17th. Raymond James set a C$11.50 price objective on Blackline Safety and gave the stock an “outperform” rating in a research report on Tuesday, April 12th. TD Securities reduced their target price on Blackline Safety from C$11.50 to C$10.50 and set a “speculative buy” rating for the company in a research report on Thursday, March 17th. Finally, National Bankshares lowered their price target on Blackline Safety from C$10.00 to C$9.00 and set an “outperform” rating on the stock in a report on Thursday, March 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$9.10.

Shares of BLN traded down C$0.03 on Wednesday, reaching C$8.92. 15,300 shares of the company’s stock traded hands, compared to its average volume of 23,527. The stock’s 50 day simple moving average is C$8.92 and its two-hundred day simple moving average is C$8.92. The stock has a market cap of C$484.79 million and a PE ratio of -42.88. Blackline Safety has a 52-week low of C$4.60 and a 52-week high of C$9.09. 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 (CVE:BLN – Get Rating) last posted its quarterly earnings data on Wednesday, March 16th. The company reported C($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.09) by C($0.12). The company had revenue of C$15.67 million for the quarter, compared to analyst estimates of C$15.51 million. Analysts forecast that Blackline Safety will post -0.05 earnings per share for the current year.

In related news, Director Cody Slater acquired 12,000 shares of the stock in a transaction on Friday, May 20th. The stock was acquired at an average cost of C$4.28 per share, for a total transaction of C$51,360.00. Following the completion of the acquisition, the director now directly owns 1,484,190 shares of the company’s stock, valued at approximately C$6,352,333.20. Over the last ninety days, insiders bought 27,500 shares of company stock valued at $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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