Desjardins Increases Stingray Group (TSE:RAY.A) Price Target to C$18.50

Stingray Group (TSE:RAY.A) had its target price boosted by investment analysts at Desjardins from C$16.50 to C$18.50 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 24.75% from the company’s previous close.

RAY.A has been the topic of several other research reports. 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. National Bankshares lifted their target price on Stingray Group from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a report on Monday, October 27th. BMO Capital Markets boosted their target price on Stingray Group from C$13.00 to C$19.00 in a research report on Thursday, November 13th. Finally, Royal Bank Of Canada increased their price target on Stingray Group from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$15.50.

Stingray Group Stock Performance

Shares of RAY.A opened at C$14.83 on Tuesday. 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 firm’s 50 day moving average is C$14.41 and its 200-day moving average is C$11.84. Stingray Group has a 12-month low of C$7.24 and a 12-month high of C$15.40. The stock has a market capitalization of C$1.01 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.13 and a beta of 1.59.

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.