Stingray Group (TSE:RAY.A) Hits New 52-Week High – Should You Buy?

Shares of Stingray Group (TSE:RAY.A) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$16.20 and last traded at C$15.93, with a volume of 51529 shares trading hands. The stock had previously closed at C$15.85.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RAY.A. Desjardins boosted their price target on Stingray Group from C$16.50 to C$18.50 and gave the stock a “buy” rating in a report on Tuesday, January 20th. CIBC lifted their price objective on Stingray Group from C$13.50 to C$16.00 in a research report on Thursday, November 13th. National Bankshares upped their target price on shares of Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a report on Monday, October 27th. Royal Bank Of Canada lifted their price target on shares of Stingray Group from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets boosted their price objective on shares of Stingray Group from C$13.00 to C$19.00 in a research report on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$15.50.

Stingray Group Trading Up 0.5%

The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The stock has a market capitalization of C$1.08 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.13 and a beta of 1.59. The business has a 50 day simple moving average of C$14.57 and a 200-day simple moving average of C$12.01.

About Stingray Group

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment. The company generates maximum revenue from the Broadcasting and commercial music segment.