Stingray Group (TSE:RAY.A) Price Target Increased to C$10.00 by Analysts at Desjardins

Stingray Group (TSE:RAY.AFree Report) had its price target increased by Desjardins from C$9.00 to C$10.00 in a report released on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on the stock. Royal Bank of Canada lifted their price objective on shares of Stingray Group from C$8.00 to C$9.00 and gave the stock an outperform rating in a research note on Tuesday. Canaccord Genuity Group cut their price target on shares of Stingray Group from C$8.50 to C$8.00 and set a buy rating on the stock in a report on Wednesday, October 18th. Finally, BMO Capital Markets raised their price objective on shares of Stingray Group from C$7.00 to C$9.50 in a research note on Thursday.

Check Out Our Latest Stock Analysis on Stingray Group

Stingray Group Price Performance

TSE:RAY.A opened at C$7.26 on Thursday. The firm has a market capitalization of C$368.45 million, a price-to-earnings ratio of 12.31, a PEG ratio of 1.13 and a beta of 1.02. The company has a debt-to-equity ratio of 140.96, a current ratio of 1.12 and a quick ratio of 0.69. The business has a 50 day simple moving average of C$6.07 and a 200-day simple moving average of C$5.36. Stingray Group has a 1 year low of C$4.21 and a 1 year high of C$7.48.

Insiders Place Their Bets

In related news, Senior Officer David Purdy purchased 90,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were acquired at an average cost of C$5.42 per share, for a total transaction of C$487,791.00. In other news, Senior Officer David Purdy purchased 90,000 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was acquired at an average cost of C$5.42 per share, with a total value of C$487,791.00. Also, insider Mavrik Corp. acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was purchased at an average cost of C$5.55 per share, for a total transaction of C$555,000.00. 22.95% of the stock is currently owned by company insiders.

Stingray Group Company Profile

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Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.

Further Reading

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