TD Securities Downgrades Blackline Safety (TSE:BLN) to Hold

Key Points

• TD Securities downgraded Blackline Safety from a "buy" rating to a "hold" rating, lowering their price target from C$8.50 to C$8.00.
• ATB Capital raised their price objective for Blackline Safety shares from C$10.00 to C$11.00, maintaining an "outperform" rating.
• Blackline Safety's stock declined by 4.7% in trading, closing at C$7.02, with a total trading volume significantly exceeding its average.

Blackline Safety (TSE:BLN - Get Free Report) was downgraded by stock analysts at TD Securities from a "buy" rating to a "hold" rating in a report issued on Friday,BayStreet.CA reports. They currently have a C$8.00 price objective on the stock, down from their previous price objective of C$8.50. TD Securities' price target points to a potential upside of 13.96% from the stock's previous close.

Separately, ATB Capital boosted their price objective on shares of Blackline Safety from C$10.00 to C$11.00 and gave the stock an "outperform" rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Blackline Safety presently has an average rating of "Moderate Buy" and a consensus price target of C$8.75.

Blackline Safety Trading Down 4.7%

BLN traded down C$0.35 during trading on Friday, hitting C$7.02. 142,476 shares of the company's stock were exchanged, compared to its average volume of 68,832. The company has a current ratio of 1.97, a quick ratio of 3.09 and a debt-to-equity ratio of 23.58. Blackline Safety has a 1 year low of C$5.28 and a 1 year high of C$7.97. The stock has a 50 day moving average price of C$6.67 and a 200 day moving average price of C$6.84. The firm has a market cap of C$608.55 million, a P/E ratio of -78.00 and a beta of 1.04.

Insider Transactions at Blackline Safety

In related news, Senior Officer Kevin Joseph Meyers purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were purchased at an average cost of C$6.50 per share, with a total value of C$32,498.00. 30.13% of the stock is owned by corporate insiders.

About Blackline Safety

Blackline Safety Corp is a connected safety monitoring technology company. It provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries.

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