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.

TD Securities downgraded shares of Blackline Safety (TSE:BLN - Free Report) from a buy rating to a hold rating in a research note released on Friday,BayStreet.CA reports. The brokerage currently has C$8.00 price target on the stock, down from their prior price target of C$8.50.

Separately, ATB Capital lifted their target price on Blackline Safety from C$10.00 to C$11.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$8.75.

Blackline Safety Trading Down 3.7%

Shares of BLN traded down C$0.27 during midday trading on Friday, hitting C$7.08. The stock had a trading volume of 142,411 shares, compared to its average volume of 69,353. The stock's 50 day moving average is C$6.67 and its 200 day moving average is C$6.85. The firm has a market cap of C$615.33 million, a PE ratio of -78.67 and a beta of 1.04. Blackline Safety has a 1 year low of C$5.34 and a 1 year high of C$7.97. The company has a debt-to-equity ratio of 23.58, a current ratio of 1.97 and a quick ratio of 3.09.

Insider Buying and Selling

In other Blackline Safety news, Senior Officer Kevin Joseph Meyers purchased 5,000 shares of Blackline Safety stock in a transaction dated Thursday, July 17th. The stock was purchased at an average price of C$6.50 per share, with a total value of C$32,498.00. Insiders own 30.13% of the company's stock.

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.