Stingray Digitl (TSE:RAY) Upgraded by Desjardins to “Moderate Buy” Rating

Desjardins upgraded shares of Stingray Digitl (TSE:RAY) to a moderate buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. National Bank Financial reduced their target price on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Canaccord Genuity Group lifted their price target on shares of Stingray Digitl from C$20.50 to C$21.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, ATB Cormark Capital Markets set a C$24.00 price objective on Stingray Digitl and gave the company a “buy” rating in a research note on Friday, June 19th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Stingray Digitl presently has an average rating of “Buy” and an average target price of C$21.75.

Stingray Digitl Stock Down 2.9%

Shares of TSE:RAY opened at C$14.95 on Monday. The business has a 50-day moving average of C$14.95. The stock has a market cap of C$1.02 billion, a P/E ratio of -35.60 and a beta of 1.16. Stingray Digitl has a fifty-two week low of C$9.55 and a fifty-two week high of C$18.00.

Stingray Digitl (TSE:RAY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported C$0.31 earnings per share for the quarter.

About Stingray Digitl

Leveraging our expertise in personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through Pure Beauty, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international brand owners. We also provide product design and development collaboration as a value-added service for our customers. Our customers are brand owners of personal care electrical appliances who market and sell their personal care electrical appliances products to end consumers.