Stingray Group (TSE:RAY.A) Price Target Raised to C$10.00

Stingray Group (TSE:RAY.A) had its target price boosted by Royal Bank of Canada from C$9.00 to C$10.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 32.45% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Desjardins lifted their target price on shares of Stingray Group from C$9.00 to C$10.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. BMO Capital Markets increased their price target on shares of Stingray Group from C$7.00 to C$9.50 in a research note on Thursday, February 8th. Finally, CIBC increased their price target on shares of Stingray Group from C$8.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th.

Stingray Group Price Performance

Shares of TSE RAY.A traded up C$0.04 during mid-day trading on Tuesday, reaching C$7.55. 5,343 shares of the company were exchanged, compared to its average volume of 41,513. Stingray Group has a 52 week low of C$4.21 and a 52 week high of C$8.10. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 134.69. The stock has a market capitalization of C$381.20 million, a PE ratio of 14.25, a PEG ratio of 1.13 and a beta of 1.09. The company’s 50 day moving average price is C$7.55 and its 200 day moving average price is C$6.36.

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.