Desjardins Issues Positive Forecast for Stingray Digitl (TSE:RAY) Stock Price

Stingray Digitl (TSE:RAY) had its price target upped by investment analysts at Desjardins from C$22.00 to C$24.00 in a research note issued to investors on Thursday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins‘s price target points to a potential upside of 33.70% from the company’s current price.

Separately, National Bank Financial raised their price objective on shares of Stingray Digitl from C$20.00 to C$21.50 and gave the company an “outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$22.62.

Stingray Digitl Price Performance

Shares of TSE RAY traded up C$0.01 during mid-day trading on Thursday, hitting C$17.95. The company had a trading volume of 71,619 shares, compared to its average volume of 47,100. The stock has a market cap of C$1.20 billion, a price-to-earnings ratio of -31.49 and a beta of 0.96. Stingray Digitl has a 12 month low of C$13.00 and a 12 month high of C$18.25. The firm’s 50 day simple moving average is C$15.90 and its two-hundred day simple moving average is C$15.35.

Stingray Digitl (TSE:RAY) last posted its earnings results on Tuesday, November 10th. The company reported C$0.51 earnings per share (EPS) for the quarter. The firm had revenue of C$171.39 million for the quarter.

Stingray Digitl Company Profile

Leveraging our expertise in personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through Pure Beauty, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international brand owners. We also provide product design and development collaboration as a value-added service for our customers. Our customers are brand owners of personal care electrical appliances who market and sell their personal care electrical appliances products to end consumers.