Royal Bank of Canada Boosts Stingray Group (TSE:RAY.A) Price Target to C$11.00

Stingray Group (TSE:RAY.A) had its price target increased by research analysts at Royal Bank of Canada from C$10.00 to C$11.00 in a note issued to investors on Thursday,BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 37.50% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets upped their target price on Stingray Group from C$9.50 to C$10.50 in a report on Thursday, August 8th. National Bankshares upped their price objective on shares of Stingray Group from C$9.50 to C$10.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Stingray Group Trading Down 1.2 %

Shares of TSE RAY.A traded down C$0.10 during trading hours on Thursday, reaching C$8.00. The stock had a trading volume of 76,938 shares, compared to its average volume of 34,495. Stingray Group has a 52-week low of C$4.88 and a 52-week high of C$8.54. The firm has a market cap of C$425.12 million, a price-to-earnings ratio of -27.59, a P/E/G ratio of 1.13 and a beta of 1.07. The business’s fifty day moving average price is C$7.35 and its two-hundred day moving average price is C$7.54. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45.

Insider Activity

In other Stingray Group news, Senior Officer Mario Dubois sold 7,200 shares of Stingray Group stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$7.94, for a total value of C$57,168.00. In the last three months, insiders have sold 18,900 shares of company stock worth $150,488. 25.46% of the stock is currently owned by company 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.