Stingray Group (TSE:RAY.A) Price Target Raised to C$18.00

Stingray Group (TSE:RAY.A) had its price objective hoisted by Royal Bank Of Canada from C$17.00 to C$18.00 in a research note published on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

RAY.A has been the topic of a number of other research reports. BMO Capital Markets increased their price target on Stingray Group from C$13.00 to C$19.00 in a research report on Thursday, November 13th. Desjardins increased their target price on Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a research report on Tuesday, January 20th. CIBC boosted their price target on shares of Stingray Group from C$13.50 to C$16.00 in a report on Thursday, November 13th. Finally, National Bankshares upped their price objective on shares of 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. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$16.17.

Stingray Group Stock Up 0.4%

Shares of RAY.A opened at C$16.97 on Tuesday. Stingray Group has a 52 week low of C$7.35 and a 52 week high of C$17.20. The company has a market capitalization of C$1.15 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.13 and a beta of 1.48. The stock’s 50-day moving average price is C$14.74 and its 200-day moving average price is C$12.27. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45.

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.