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

Stingray Group (TSE:RAY.A) had its price objective boosted by equities researchers at CIBC from C$11.00 to C$11.50 in a research report issued on Friday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 30.98% from the stock’s current price.

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

Stingray Group Price Performance

Shares of Stingray Group stock opened at C$8.78 on Friday. The firm has a market capitalization of C$466.57 million, a PE ratio of -30.28, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. Stingray Group has a 12 month low of C$6.76 and a 12 month high of C$9.05. The business’s 50-day moving average price is C$7.71 and its 200-day moving average price is C$7.69.

Insider Buying and Selling

In related news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of the company’s 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. Also, Senior Officer Ratha Khuong sold 5,000 shares of Stingray Group stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$8.11, for a total value of C$40,569.00. Insiders have sold a total of 22,800 shares of company stock valued at $180,088 over the last ninety days. Company insiders own 25.46% of the company’s stock.

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.