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

by · The Cerbat Gem

Stingray Group (TSE:RAY.A – Get Free Report) had its price target lifted by stock analysts at Royal Bank Of Canada from C$17.00 to C$18.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 12.08% from the company’s current price.

A number of other research analysts have also issued reports on RAY.A. National Bankshares increased their target price 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. Desjardins increased their price target on Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a report on Tuesday, January 20th. BMO Capital Markets boosted their target price on shares of Stingray Group from C$13.00 to C$19.00 in a report on Thursday, November 13th. Finally, CIBC lifted their price target on shares of Stingray Group from C$13.50 to C$16.00 in a research report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Stingray Group has a consensus rating of “Moderate Buy” and a consensus price target of C$16.17.

Get Our Latest Analysis on Stingray Group

Stingray Group Stock Performance

Shares of Stingray Group stock traded down C$0.18 on Tuesday, reaching C$16.06. 35,915 shares of the stock were exchanged, compared to its average volume of 67,597. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The business has a 50 day moving average price of C$14.64 and a two-hundred day moving average price of C$12.16. Stingray Group has a twelve month low of C$7.35 and a twelve month high of C$16.50. The firm has a market capitalization of C$1.09 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.13 and a beta of 1.59.

About Stingray Group

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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.

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