Stingray Group (TSE:RAY.A) Given New C$16.00 Price Target at CIBC

Stingray Group (TSE:RAY.A) had its price objective increased by equities research analysts at CIBC from C$13.50 to C$16.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 17.82% from the company’s previous close.

Other research analysts also recently issued research reports about the company. National Bankshares raised their price target on Stingray Group from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Royal Bank Of Canada raised their price objective on shares of Stingray Group from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$14.33.

Stingray Group Stock Up 3.9%

TSE RAY.A traded up C$0.51 during trading hours on Thursday, hitting C$13.58. 74,195 shares of the company were exchanged, compared to its average volume of 32,677. The company has a 50 day moving average of C$10.69 and a two-hundred day moving average of C$9.97. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The firm has a market cap of C$938.77 million, a price-to-earnings ratio of 20.58, a PEG ratio of 1.13 and a beta of 1.25. Stingray Group has a 52-week low of C$7.18 and a 52-week high of C$13.82.

Stingray Group Company Profile

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment.