Stingray Group (TSE:RAY.A) Hits New 12-Month High – Should You Buy?

Stingray Group (TSE:RAY.A)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$11.86 and last traded at C$11.53, with a volume of 31070 shares traded. The stock had previously closed at C$11.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RAY.A shares. National Bankshares boosted their target price on Stingray Group from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Royal Bank Of Canada boosted 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. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.58.

Stingray Group Stock Performance

The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The firm has a market cap of C$780.47 million, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.13 and a beta of 1.25. The stock has a fifty day moving average price of C$10.51 and a 200 day moving average price of C$9.87.

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.