RediShred Capital (CVE:KUT) Hits New 1-Year High – What’s Next?

RediShred Capital Corp. (CVE:KUT) shares reached a new 52-week high during trading on Friday . The stock traded as high as C$4.84 and last traded at C$4.65, with a volume of 1900 shares traded. The stock had previously closed at C$4.59.

Analyst Upgrades and Downgrades

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

RediShred Capital Trading Up 5.7 %

The company’s 50 day simple moving average is C$3.89 and its two-hundred day simple moving average is C$3.36. The company has a market capitalization of C$88.80 million, a price-to-earnings ratio of 37.31 and a beta of 1.34. The company has a quick ratio of 1.33, a current ratio of 0.46 and a debt-to-equity ratio of 69.47.

RediShred Capital (CVE:KUT) last announced its earnings results on Wednesday, August 28th. The company reported C$0.05 earnings per share for the quarter, hitting the consensus estimate of C$0.05. RediShred Capital had a return on equity of 5.09% and a net margin of 3.69%. The firm had revenue of C$17.95 million for the quarter, compared to the consensus estimate of C$18.28 million. As a group, research analysts anticipate that RediShred Capital Corp. will post 0.237933 earnings per share for the current fiscal year.

About RediShred Capital

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.