Stingray Group (TSE:RAY.A) Price Target Raised to C$18.50

Stingray Group (TSE:RAY.A) had its price target boosted by Desjardins from C$16.50 to C$18.50 in a research note published on Tuesday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on RAY.A. National Bankshares boosted their target price on shares of Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a research report on Monday, October 27th. BMO Capital Markets boosted their price objective on shares of Stingray Group from C$13.00 to C$19.00 in a research report on Thursday, November 13th. CIBC upped their price objective on Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada lifted their target price on Stingray Group from C$13.00 to C$14.00 and gave the company 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$15.50.

Stingray Group Trading Up 6.5%

Shares of TSE:RAY.A opened at C$15.79 on Tuesday. The stock’s 50-day simple moving average is C$14.46 and its two-hundred day simple moving average is C$11.87. The stock has a market capitalization of C$1.07 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.13 and a beta of 1.59. Stingray Group has a 52-week low of C$7.31 and a 52-week high of C$15.93. 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.