Stingray Group (TSE:RAY.A) Hits New 52-Week High – Should You Buy?

Stingray Group (TSE:RAY.A) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$17.49 and last traded at C$17.24, with a volume of 71250 shares changing hands. The stock had previously closed at C$17.15.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Desjardins lifted their target price on Stingray Group from C$16.50 to C$18.50 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Royal Bank Of Canada raised their target price on shares of Stingray Group from C$17.00 to C$18.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. BMO Capital Markets lifted their price target on shares of Stingray Group from C$13.00 to C$19.00 in a research report on Thursday, November 13th. Canadian Imperial Bank of Commerce raised their price objective on Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. Finally, National Bankshares upped their target price on 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. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$16.17.

Stingray Group Trading Up 0.2%

The firm’s 50 day moving average is C$14.78 and its 200 day moving average is C$12.34. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The company has a market cap of C$1.17 billion, a PE ratio of 22.61, a PEG ratio of 1.13 and a beta of 1.48.

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.