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

Stingray Group (TSE:RAY.A) had its price objective raised 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 firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 6.51% from the stock’s current price.

A number of other equities analysts have also commented on the company. National Bankshares increased their price target on Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a research note on Monday, October 27th. CIBC increased their target price on Stingray Group from C$13.50 to C$16.00 in a research report on Thursday, November 13th. Desjardins boosted their price target on shares of Stingray Group from C$16.50 to C$18.50 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, BMO Capital Markets upped their price target on shares of Stingray Group from C$13.00 to C$19.00 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 company. According to MarketBeat.com, Stingray Group currently has a consensus rating of “Moderate Buy” and an average price target of C$16.17.

Stingray Group Stock Up 5.0%

RAY.A opened at C$16.90 on Tuesday. The company has a market capitalization of C$1.15 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The firm has a 50-day simple moving average of C$14.71 and a two-hundred day simple moving average of C$12.24. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. Stingray Group has a 52 week low of C$7.35 and a 52 week high of C$17.20.

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.