RediShred Capital (CVE:KUT) Reaches New 52-Week High – What’s Next?

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

Analysts Set New Price Targets

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

RediShred Capital Price Performance

The stock has a fifty day moving average of C$3.86 and a 200-day moving average of C$3.34. The company has a quick ratio of 1.33, a current ratio of 0.46 and a debt-to-equity ratio of 69.47. The firm has a market capitalization of C$88.80 million, a P/E ratio of 35.77 and a beta of 1.34.

RediShred Capital (CVE:KUT) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$0.05 earnings per share for the quarter, hitting the consensus estimate of C$0.05. The firm had revenue of C$17.95 million during the quarter, compared to analysts’ expectations of C$18.28 million. RediShred Capital had a return on equity of 5.09% and a net margin of 3.69%. Equities analysts predict that RediShred Capital Corp. will post 0.237933 EPS 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.