Stingray Group (TSE:RAY.A) Price Target Raised to C$12.00

Stingray Group (TSE:RAY.A - Get Free Report) had its price target hoisted by analysts at TD Securities from C$11.00 to C$12.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. TD Securities' target price indicates a potential upside of 37.93% from the stock's current price.

Several other research analysts have also recently issued reports on the company. CIBC upped their price target on Stingray Group from C$11.00 to C$11.50 in a report on Friday, February 7th. BMO Capital Markets increased their target price on shares of Stingray Group from C$10.50 to C$11.00 and gave the stock a "market perform" rating in a research report on Friday, February 7th.

Stingray Group Stock Performance

TSE RAY.A traded down C$0.13 on Tuesday, hitting C$8.70. The stock had a trading volume of 9,313 shares, compared to its average volume of 31,413. 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 company's 50-day moving average is C$8.64 and its two-hundred day moving average is C$8.12. The stock has a market cap of C$462.32 million, a price-to-earnings ratio of -30.00, a P/E/G ratio of 1.13 and a beta of 1.07. Stingray Group has a one year low of C$6.76 and a one year high of C$9.50.

Insider Buying and Selling

In related news, Senior Officer Lloyd Perry Feldman sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of C$8.48, for a total transaction of C$84,751.00. Also, Senior Officer Mario Dubois sold 19,800 shares of Stingray Group stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of C$8.43, for a total value of C$166,854.60. 25.46% of the stock is owned by insiders.

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.