Performance Sports Group Rating Reiterated by CIBC (PSG)
Performance Sports Group (NYSE:PSG)‘s stock had its “sector perform” rating reiterated by CIBC in a research note issued on Thursday. They currently have a $18.00 price objective on the stock, up from their previous price objective of $17.00. CIBC’s price target would suggest a potential upside of 8.50% from the stock’s previous close.
Performance Sports Group (NYSE:PSG) traded down 0.78% on Thursday, hitting $16.46. 3,206 shares of the company’s stock traded hands. Performance Sports Group has a one year low of $15.663 and a one year high of $17.39. The stock has a 50-day moving average of $16.57 and a 200-day moving average of $14.19. The company has a market cap of $517.0 million and a price-to-earnings ratio of 23.70. Performance Sports Group also was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 64,538 shares, a decline of 97.3% from the July 15th total of 2,410,915 shares. Based on an average daily trading volume, of 93,577 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the company’s stock are sold short.
PSG has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Performance Sports Group from $16.50 to $20.00 in a research note on Wednesday, July 16th. They now have an “outperform” rating on the stock. Separately, analysts at Paradigm Capital raised their price target on shares of Performance Sports Group from C$21.00 to C$22.00 in a research note on Tuesday, July 15th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America initiated coverage on shares of Performance Sports Group in a research note on Tuesday, July 15th. They set a “neutral” rating and a $18.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.33.
Performance Sports Group Ltd, formerly Bauer Performance Sports Ltd., designs, develops, manufactures and sells performance sports equipment and accessories for ice hockey, roller hockey, lacrosse, baseball and softball, as well as related apparel, including soccer apparel.
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