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 analysts at BMO Capital Markets from C$10.50 to C$11.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 25.28% from the stock’s current price.

RAY.A has been the subject of a number of other research reports. Royal Bank of Canada boosted their target price on shares of Stingray Group from C$10.00 to C$11.00 in a research note on Thursday, November 7th. CIBC upped their price objective on shares of Stingray Group from C$10.50 to C$11.00 in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Stingray Group presently has an average rating of “Moderate Buy” and an average target price of C$10.70.

Stingray Group Price Performance

Shares of TSE RAY.A opened at C$8.78 on Friday. The stock’s 50-day moving average is C$7.71 and its two-hundred day moving average is C$7.69. 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 company has a market cap of C$466.57 million, a price-to-earnings ratio of -30.28, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. Stingray Group has a 1-year low of C$6.76 and a 1-year high of C$9.05.

Insider Buying and Selling

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

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.