Stingray Group (TSE:RAY.A) Price Target Cut to C$6.00 by Analysts at TD Securities

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Stingray Group (TSE:RAY.A) had its price objective lowered by research analysts at TD Securities from C$8.50 to C$6.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 84.62% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. National Bank Financial reduced their target price on shares of Stingray Group from C$8.50 to C$8.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada reduced their target price on shares of Stingray Group from C$10.00 to C$9.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Five research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of C$8.42.

RAY.A opened at C$3.25 on Wednesday. Stingray Group has a fifty-two week low of C$3.93 and a fifty-two week high of C$7.94. The company has a debt-to-equity ratio of 132.75, a current ratio of 0.83 and a quick ratio of 0.71. The firm has a market capitalization of $184.20 million and a price-to-earnings ratio of 9.53. The company’s 50 day moving average price is C$5.43 and its two-hundred day moving average price is C$6.43.

Stingray Group Company Profile

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.

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