Desjardins Boosts Stingray Digitl (TSE:RAY) Price Target to C$22.00

Stingray Digitl (TSE:RAY) had its target price lifted by equities research analysts at Desjardins to C$22.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 29.79% from the company’s current price.

RAY has been the subject of several other research reports. Canaccord Genuity Group boosted their price objective on Stingray Digitl from C$20.50 to C$21.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. National Bank Financial dropped their price objective on Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, Stingray Digitl presently has an average rating of “Buy” and a consensus target price of C$21.00.

Stingray Digitl Stock Performance

Shares of RAY traded up C$2.53 during mid-day trading on Thursday, hitting C$16.95. The stock had a trading volume of 135,759 shares, compared to its average volume of 57,137. Stingray Digitl has a fifty-two week low of C$9.52 and a fifty-two week high of C$18.00. The stock has a market capitalization of C$1.15 billion, a P/E ratio of 26.90 and a beta of 1.16. The company’s fifty day moving average price is C$14.74.

Stingray Digitl (TSE:RAY) last announced its earnings results on Tuesday, June 9th. The company reported C$0.31 earnings per share for the quarter.

Stingray Digitl Company Profile

Leveraging our expertise in personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through Pure Beauty, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international brand owners. We also provide product design and development collaboration as a value-added service for our customers. Our customers are brand owners of personal care electrical appliances who market and sell their personal care electrical appliances products to end consumers.