RediShred Capital (CVE:KUT) Sets New 12-Month High – Here’s What Happened

RediShred Capital Corp. (CVE:KUT)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as C$4.89 and last traded at C$4.87, with a volume of 105706 shares. The stock had previously closed at C$4.11.

Analyst Ratings Changes

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

RediShred Capital Stock Up 18.5 %

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 firm’s 50 day simple moving average is C$4.15 and its 200-day simple moving average is C$3.47. The stock has a market capitalization of C$89.17 million, a price-to-earnings ratio of 31.62 and a beta of 1.34.

RediShred Capital (CVE:KUT) last issued its earnings results on Wednesday, August 28th. The company reported C$0.05 EPS for the quarter, meeting the consensus estimate of C$0.05. RediShred Capital had a net margin of 3.69% and a return on equity of 5.09%. The company had revenue of C$17.95 million during the quarter, compared to analysts’ expectations of C$18.28 million. Equities analysts expect 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.