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 raised by BMO Capital Markets from C$10.50 to C$11.00 in a research report released on Friday,BayStreet.CA reports. The firm currently has a market perform rating on the stock.

A number of other brokerages also recently weighed in on RAY.A. Royal Bank of Canada raised their price objective on Stingray Group from C$10.00 to C$11.00 in a research note on Thursday, November 7th. CIBC lifted their price target on shares of Stingray Group from C$10.50 to C$11.00 in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stingray Group currently has an average rating of “Moderate Buy” and an average price target of C$10.70.

Stingray Group Price Performance

TSE RAY.A opened at C$8.55 on Friday. Stingray Group has a fifty-two week low of C$6.76 and a fifty-two week high of C$9.05. The stock’s 50-day moving average is C$7.71 and its two-hundred day moving average is C$7.69. The firm has a market cap of C$454.35 million, a P/E ratio of -29.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69.

Insider Activity at Stingray Group

In other news, Senior Officer Mario Dubois sold 4,200 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$8.30, for a total value of C$34,860.00. Also, Senior Officer Mathieu Péloquin sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$7.97, for a total transaction of C$39,850.00. Insiders sold a total of 22,800 shares of company stock worth $180,088 in the last 90 days. 25.46% of the stock is owned by company insiders.

About Stingray Group

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.