Stingray Group (TSE:RAY.A) Price Target Raised to C$18.00

Stingray Group (TSE:RAY.A) had its price target increased by research analysts at Royal Bank Of Canada from C$17.00 to C$18.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 12.08% from the company’s current price.

Several other brokerages have also commented on RAY.A. CIBC boosted their price target on Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. National Bankshares upped their target price on Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a research note on Monday, October 27th. BMO Capital Markets upped their price objective on Stingray Group from C$13.00 to C$19.00 in a report on Thursday, November 13th. Finally, Desjardins increased their price objective on shares of Stingray Group from C$16.50 to C$18.50 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$16.17.

Stingray Group Stock Performance

Shares of RAY.A stock traded down C$0.18 during trading hours on Tuesday, hitting C$16.06. The stock had a trading volume of 35,915 shares, compared to its average volume of 67,597. Stingray Group has a twelve month low of C$7.35 and a twelve month high of C$16.50. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The firm has a market capitalization of C$1.09 billion, a PE ratio of 21.13, a PEG ratio of 1.13 and a beta of 1.59. The stock’s 50 day moving average is C$14.64 and its 200 day moving average is C$12.16.

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. The company generates maximum revenue from the Broadcasting and commercial music segment.