Stingray Group (TSE:RAY.A) Price Target Raised to C$11.50 at CIBC

Stingray Group (TSE:RAY.A) had its price objective raised by equities research analysts at CIBC from C$11.00 to C$11.50 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 30.98% from the stock’s previous close.

Several other research analysts have also weighed in on RAY.A. BMO Capital Markets lifted their price objective on Stingray Group from C$10.50 to C$11.00 and gave the stock a “market perform” rating in a research report on Friday. Royal Bank of Canada lifted their target price on Stingray Group from C$10.00 to C$11.00 in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$10.70.

Stingray Group Price Performance

Shares of TSE RAY.A opened at C$8.78 on Friday. The company has a market capitalization of C$466.57 million, a PE ratio of -30.28, a P/E/G ratio of 1.13 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. Stingray Group has a twelve month low of C$6.76 and a twelve month high of C$9.05. The firm has a fifty day simple moving average of C$7.71 and a 200 day simple moving average of C$7.69.

Insiders Place Their Bets

In related news, Senior Officer Mario Dubois sold 4,200 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$8.30, for a total transaction of C$34,860.00. Also, Senior Officer Ratha Khuong sold 5,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$8.11, for a total transaction of C$40,569.00. In the last ninety days, insiders sold 22,800 shares of company stock valued at $180,088. Corporate insiders own 25.46% of the company’s stock.

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.