Stingray Group (TSE:RAY.A) Price Target Raised to C$18.00 at Royal Bank Of Canada

Stingray Group (TSE:RAY.A) had its price objective hoisted by Royal Bank Of Canada from C$17.00 to C$18.00 in a research note released on Tuesday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets upped their price target on Stingray Group from C$13.00 to C$19.00 in a research note on Thursday, November 13th. Desjardins increased 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. National Bankshares lifted 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, October 27th. Finally, CIBC boosted their price target on shares of Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$16.17.

Stingray Group Price Performance

Shares of TSE RAY.A opened at C$16.10 on Tuesday. The firm has a market capitalization of C$1.09 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.13 and a beta of 1.48. The firm’s 50-day moving average price is C$14.66 and its 200-day moving average price is C$12.20. 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 1-year low of C$7.35 and a 1-year high of C$16.50.

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.