RediShred Capital (CVE:KUT) Sets New 52-Week High – Time to Buy?

RediShred Capital Corp. (CVE:KUT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$4.67 and last traded at C$4.25, with a volume of 4762 shares. The stock had previously closed at C$4.19.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KUT shares. Cormark raised their price target on shares of RediShred Capital from C$5.75 to C$6.00 in a research report on Friday, August 30th. Singular Research upgraded RediShred Capital to a “strong-buy” rating in a research note on Monday, September 30th.

RediShred Capital Price Performance

The firm has a fifty day moving average of C$3.47 and a 200 day moving average of C$3.18. The company has a current ratio of 0.46, a quick ratio of 1.33 and a debt-to-equity ratio of 69.47. The company has a market capitalization of C$74.70 million, a P/E ratio of 31.38 and a beta of 1.34.

RediShred Capital (CVE:KUT) last announced its quarterly earnings results on Wednesday, August 28th. The company reported C$0.05 EPS for the quarter, hitting analysts’ consensus estimates of C$0.05. The firm had revenue of C$17.95 million during the quarter, compared to analyst estimates of C$18.28 million. RediShred Capital had a net margin of 3.69% and a return on equity of 5.09%. On average, equities research analysts anticipate that RediShred Capital Corp. will post 0.237933 EPS for the current year.

RediShred Capital Company Profile

RediShred Capital Corp., together with its subsidiaries, operates the Proshred franchise and license business in the United States. The company operates through three segments: Franchising and licensing, Corporate Locations, and Corporate. It grants and manages shredding business franchises under the Proshred brand, as well as operates corporate shredding locations.