Stingray Group (TSE:RAY.A) Given New C$10.00 Price Target at Royal Bank of Canada

Stingray Group (TSE:RAY.A) had its price objective lifted by Royal Bank of Canada from C$9.00 to C$10.00 in a report published on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on RAY.A. BMO Capital Markets raised their price target on shares of Stingray Group from C$7.00 to C$9.50 in a report on Thursday, February 8th. Desjardins boosted their price target on Stingray Group from C$9.00 to C$10.00 and gave the company a buy rating in a report on Thursday, February 8th. Finally, CIBC upped their price target on Stingray Group from C$8.00 to C$10.00 and gave the company an outperform rating in a research report on Thursday, February 8th.

Stingray Group Price Performance

RAY.A stock opened at C$7.76 on Tuesday. The firm’s fifty day moving average is C$7.57 and its 200 day moving average is C$6.42. Stingray Group has a 52 week low of C$4.21 and a 52 week high of C$8.10. The firm has a market cap of C$391.80 million, a P/E ratio of 14.64, a P/E/G ratio of 1.13 and a beta of 1.09. 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.