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

Stingray Group (TSE:RAY.A) had its target price lifted by BMO Capital Markets from C$10.50 to C$11.00 in a research note released on Friday,BayStreet.CA reports. They currently have a market perform rating on the stock.

Several other research analysts have also issued reports on RAY.A. Royal Bank of Canada lifted their price target on shares of Stingray Group from C$10.00 to C$11.00 in a research report on Thursday, November 7th. CIBC lifted their target price on Stingray Group from C$10.50 to C$11.00 in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Stingray Group currently has a consensus rating of “Moderate Buy” and an average target price of C$10.70.

Stingray Group Stock Performance

Shares of RAY.A opened at C$8.55 on Friday. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The firm’s 50 day moving average is C$7.71 and its 200-day moving average is C$7.69. Stingray Group has a 12-month low of C$6.76 and a 12-month high of C$9.05. The stock has a market capitalization of C$454.35 million, a P/E ratio of -29.48, a P/E/G ratio of 1.13 and a beta of 1.07.

Insiders Place Their Bets

In other Stingray Group news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of C$7.50, for a total value of C$60,008.00. Also, Senior Officer Ratha Khuong sold 5,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$8.11, for a total transaction of C$40,569.00. In the last three months, insiders have sold 22,800 shares of company stock worth $180,088. Corporate insiders own 25.46% of the company’s stock.

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.