Stingray Group (TSE:RAY.A) Price Target Raised to C$12.00

Stingray Group (TSE:RAY.A) had its target price boosted by TD Securities from C$11.00 to C$12.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. CIBC boosted their target price on shares of Stingray Group from C$11.00 to C$11.50 in a report on Friday, February 7th. BMO Capital Markets upped their price objective on Stingray Group from C$10.50 to C$11.00 and gave the stock a “market perform” rating in a report on Friday, February 7th.

Stingray Group Stock Up 2.1 %

RAY.A opened at C$8.83 on Tuesday. Stingray Group has a 12 month low of C$6.76 and a 12 month high of C$9.50. The business has a 50-day moving average of C$8.64 and a two-hundred day moving average of C$8.12. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The stock has a market capitalization of C$469.23 million, a price-to-earnings ratio of -30.45, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07.

Insiders Place Their Bets

In related news, Senior Officer Mario Dubois sold 19,800 shares of Stingray Group stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of C$8.43, for a total transaction of C$166,854.60. Also, Senior Officer Lloyd Perry Feldman sold 10,000 shares of Stingray Group stock in a transaction dated Monday, February 10th. The stock was sold at an average price of C$8.48, for a total value of C$84,751.00. 25.46% of the stock is currently owned by insiders.

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.