Stingray Group (TSE:RAY.A) Price Target Raised to C$10.50

Stingray Group (TSE:RAY.A) had its price target increased by BMO Capital Markets from C$9.50 to C$10.50 in a research note issued to investors on Thursday, BayStreet.CA reports.

RAY.A has been the subject of several other reports. Royal Bank of Canada boosted their price objective on Stingray Group from C$9.00 to C$10.00 and gave the stock an outperform rating in a research report on Tuesday, April 30th. CIBC boosted their price objective on Stingray Group from C$10.00 to C$10.50 and gave the stock an outperform rating in a research report on Thursday, June 6th. Finally, National Bankshares boosted their price objective on Stingray Group from C$9.50 to C$10.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Stingray Group currently has a consensus rating of Buy and a consensus target price of C$9.83.

Stingray Group Stock Performance

Shares of RAY.A stock opened at C$8.00 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.90 and a debt-to-equity ratio of 155.56. The business has a 50 day moving average of C$7.67 and a two-hundred day moving average of C$7.51. Stingray Group has a 52 week low of C$4.21 and a 52 week high of C$8.54. The company has a market cap of C$402.08 million, a P/E ratio of -40.00, a PEG ratio of 1.13 and a beta of 1.08.

Insider Buying and Selling at Stingray Group

In other news, insider Mavrik Corp. bought 140,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of C$7.15 per share, with a total value of C$1,001,000.00. In related news, Senior Officer David Purdy purchased 100,000 shares of the stock in a transaction dated Friday, June 21st. The shares were acquired at an average cost of C$7.15 per share, for a total transaction of C$715,000.00. Also, insider Mavrik Corp. purchased 140,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of C$7.15 per share, for a total transaction of C$1,001,000.00. Company insiders own 24.33% of the company’s stock.

Stingray Group Company Profile

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.