Royal Bank of Canada Increases Stingray Group (TSE:RAY.A) Price Target to C$10.00

Stingray Group (TSE:RAY.A) had its price objective boosted by stock analysts at Royal Bank of Canada from C$9.00 to C$10.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 31.93% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets increased their price objective on Stingray Group from C$7.00 to C$9.50 in a research note on Thursday, February 8th. Desjardins increased their target price on Stingray Group from C$9.00 to C$10.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, CIBC increased their price objective on Stingray Group from C$8.00 to C$10.00 and gave the company an “outperform” rating in a report on Thursday, February 8th.

Stingray Group Trading Up 1.1 %

Shares of TSE RAY.A opened at C$7.58 on Tuesday. Stingray Group has a fifty-two week low of C$4.21 and a fifty-two week high of C$8.10. The company has a market cap of C$382.71 million, a price-to-earnings ratio of 14.30, a PEG ratio of 1.13 and a beta of 1.09. The business’s 50 day moving average price is C$7.56 and its 200-day moving average price is C$6.39. The company has a debt-to-equity ratio of 134.69, a quick ratio of 0.69 and a current ratio of 1.13.

About Stingray Group

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.