Stingray Digitl (TSE:RAY) Given a C$24.00 Price Target by ATB Cormark Capital Markets Analysts

Stingray Digitl (TSE:RAY) received a C$24.00 price objective from research analysts at ATB Cormark Capital Markets in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 55.54% from the company’s previous close.

A number of other brokerages have also weighed in on RAY. Desjardins raised their target price on shares of Stingray Digitl to C$22.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. National Bank Financial lowered their price objective on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Finally, Canaccord Genuity Group raised their price target on shares of Stingray Digitl from C$20.50 to C$21.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$21.75.

Stingray Digitl Price Performance

Shares of TSE:RAY traded down C$0.80 during trading on Friday, reaching C$15.43. 199,965 shares of the company traded hands, compared to its average volume of 58,132. The company has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -36.74 and a beta of 1.16. Stingray Digitl has a 52 week low of C$9.55 and a 52 week high of C$18.00. The business’s 50 day moving average price is C$14.92.

Stingray Digitl (TSE:RAY) last released its earnings results on Tuesday, June 9th. The company reported C$0.31 EPS for the quarter.

About Stingray Digitl

Leveraging our expertise in personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through Pure Beauty, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international brand owners. We also provide product design and development collaboration as a value-added service for our customers. Our customers are brand owners of personal care electrical appliances who market and sell their personal care electrical appliances products to end consumers.