Stingray Group (TSE:RAY.A) Price Target Raised to C$11.00

Stingray Group (TSE:RAY.A) had its price target boosted by CIBC from C$10.50 to C$11.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other research firms also recently issued reports on RAY.A. National Bankshares lifted their price objective on shares of Stingray Group from C$9.50 to C$10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their target price on shares of Stingray Group from C$10.00 to C$11.00 in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of Stingray Group from C$9.50 to C$10.50 in a research report on Thursday, August 8th.

Stingray Group Stock Up 1.9 %

Shares of Stingray Group stock opened at C$8.05 on Thursday. The firm has a market cap of C$427.78 million, a PE ratio of -27.76, a P/E/G ratio of 1.13 and a beta of 1.07. The business’s 50 day simple moving average is C$7.36 and its 200 day simple moving average is C$7.55. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. Stingray Group has a 52-week low of C$4.88 and a 52-week high of C$8.54.

Insider Activity

In related news, Senior Officer Mario Dubois sold 7,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$8.00, for a total transaction of C$60,000.00. In the last 90 days, insiders sold 18,900 shares of company stock valued at $150,488. 25.46% of the stock is owned by insiders.

Stingray Group Company Profile

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.