Stingray Group (TSE:RAY.A) Given New C$18.50 Price Target at Desjardins

Stingray Group (TSE:RAY.A) had its target price lifted by Desjardins from C$16.50 to C$18.50 in a research note released on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets increased their price target on Stingray Group from C$13.00 to C$19.00 in a report on Thursday, November 13th. CIBC upped their price objective on shares of Stingray Group from C$13.50 to C$16.00 in a research report on Thursday, November 13th. National Bankshares lifted their target price on shares of Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Stingray Group from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Stingray Group presently has an average rating of “Moderate Buy” and an average price target of C$15.50.

Stingray Group Stock Down 0.3%

Stingray Group stock opened at C$14.87 on Tuesday. The stock has a 50 day moving average of C$14.38 and a two-hundred day moving average of C$11.82. Stingray Group has a twelve month low of C$7.24 and a twelve month high of C$15.40. The stock has a market capitalization of C$1.01 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.13 and a beta of 1.59. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45.

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. The company generates maximum revenue from the Broadcasting and commercial music segment.