Stingray Group (TSE:RAY.A) Stock Price Expected to Rise, Desjardins Analyst Says

Stingray Group (TSE:RAY.A) had its price target upped by investment analysts at Desjardins from C$16.50 to C$18.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 24.58% from the stock’s previous close.

A number of other research firms have also commented on RAY.A. National Bankshares upped their price target 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. CIBC upped their target price on Stingray Group from C$13.50 to C$16.00 in a report on Thursday, November 13th. BMO Capital Markets raised their price target on Stingray Group from C$13.00 to C$19.00 in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada lifted their price target on shares of Stingray Group from C$13.00 to C$14.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.50.

Stingray Group Trading Down 0.4%

Shares of RAY.A stock traded down C$0.06 during mid-day trading on Tuesday, reaching C$14.85. The stock had a trading volume of 9,072 shares, compared to its average volume of 57,083. The firm has a market capitalization of C$1.01 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.13 and a beta of 1.59. The stock’s 50-day moving average price is C$14.30 and its two-hundred day moving average price is C$11.79. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. Stingray Group has a 52-week low of C$7.24 and a 52-week high of C$15.40.

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.