Stingray Group (TSE:RAY.A) Given New C$19.00 Price Target at BMO Capital Markets

Stingray Group (TSE:RAY.A) had its price target lifted by equities research analysts at BMO Capital Markets from C$13.00 to C$19.00 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential upside of 39.91% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. National Bankshares lifted their target price on Stingray Group from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a report on Monday, October 27th. Royal Bank Of Canada raised their target price on Stingray Group from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, CIBC upped their price objective on shares of Stingray Group from C$13.50 to C$16.00 in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Stingray Group presently has an average rating of “Moderate Buy” and an average price target of C$14.33.

Stingray Group Trading Up 3.9%

TSE RAY.A traded up C$0.51 on Thursday, reaching C$13.58. The company had a trading volume of 74,195 shares, compared to its average volume of 32,677. Stingray Group has a 52 week low of C$7.18 and a 52 week high of C$13.82. The stock has a market cap of C$938.77 million, a price-to-earnings ratio of 20.58, a PEG ratio of 1.13 and a beta of 1.25. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The stock’s 50 day moving average is C$10.69 and its 200-day moving average is C$9.97.

Stingray Group Company Profile

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment.