Desjardins Upgrades Stingray Digitl (TSE:RAY) to “Moderate Buy”

Stingray Digitl (TSE:RAY) was upgraded by Desjardins to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. ATB Cormark Capital Markets set a C$24.00 price objective on shares of Stingray Digitl and gave the company a “buy” rating in a research note on Friday, June 19th. Canaccord Genuity Group upped their target price on shares of Stingray Digitl from C$20.50 to C$21.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, National Bank Financial dropped their price target on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Stingray Digitl currently has an average rating of “Buy” and a consensus price target of C$21.75.

Stingray Digitl Trading Down 2.9%

RAY opened at C$14.95 on Monday. The company has a market capitalization of C$1.02 billion, a PE ratio of -35.60 and a beta of 1.16. Stingray Digitl has a 1 year low of C$9.55 and a 1 year high of C$18.00. The company’s 50 day moving average price is C$14.95.

Stingray Digitl (TSE:RAY) last issued 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.