Stingray Group (TSE:RAY.A) Sets New 1-Year High – Here’s What Happened

Shares of Stingray Group (TSE:RAY.A) hit a new 52-week high on Thursday . The company traded as high as C$15.45 and last traded at C$15.40, with a volume of 33762 shares changing hands. The stock had previously closed at C$14.83.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. National Bankshares upped 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. CIBC boosted their price objective on shares of Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. Royal Bank Of Canada raised their target price on shares of Stingray Group from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. BMO Capital Markets lifted their target price on shares of Stingray Group from C$13.00 to C$19.00 in a report on Thursday, November 13th. Finally, Desjardins upped their price target on shares of Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$15.50.

Stingray Group Trading Up 6.5%

The company has a market cap of C$1.07 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.13 and a beta of 1.59. The business’s 50-day moving average price is C$14.41 and its 200 day moving average price is C$11.84. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05.

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.