CIBC Issues Positive Forecast for Stingray Group (TSE:RAY.A) Stock Price

Stingray Group (TSE:RAY.A) had its price target lifted by CIBC from C$11.00 to C$11.50 in a research note issued to investors on Friday morning,BayStreet.CA reports.

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

Stingray Group Stock Down 2.6 %

TSE:RAY.A opened at C$8.55 on Friday. The stock’s fifty day simple moving average is C$7.71 and its 200-day simple moving average is C$7.69. The firm has a market capitalization of C$454.35 million, a P/E ratio of -29.48, 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 12-month low of C$6.76 and a 12-month high of C$9.05.

Insider Transactions at Stingray Group

In other Stingray Group news, Senior Officer Ratha Khuong sold 5,000 shares of the 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. Also, Senior Officer Lloyd Perry Feldman sold 8,000 shares of Stingray Group stock in a transaction dated Friday, December 20th. The shares were 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 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.