Stingray Group (TSE:RAY.A) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Stingray Group (TSE:RAY.A) had its target price boosted by investment analysts at Royal Bank Of Canada from C$13.00 to C$14.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 23.24% from the stock’s current price.

Separately, National Bankshares upped their price target on shares of Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Stingray Group presently has an average rating of “Moderate Buy” and a consensus target price of C$12.58.

Stingray Group Stock Performance

Shares of RAY.A opened at C$11.36 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The stock has a market capitalization of C$785.31 million, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11. The firm’s fifty day simple moving average is C$10.39 and its two-hundred day simple moving average is C$9.78. Stingray Group has a 12 month low of C$7.16 and a 12 month high of C$11.79.

About Stingray Group

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.