Performance Sports Group Now Covered by Morgan Stanley (PSG)
Stock analysts at Morgan Stanley initiated coverage on shares of Performance Sports Group (NYSE:PSG) in a report issued on Tuesday. The firm set an “overweight” rating and a $21.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 23.38% from the company’s current price.
A number of other analysts have also recently weighed in on PSG. Analysts at National Bank Financial raised their price target on shares of Performance Sports Group from C$18.00 to C$20.00 in a research note on Thursday, August 14th. They now have an “outperform” rating on the stock. Separately, analysts at Scotiabank raised their price target on shares of Performance Sports Group from C$18.50 to C$19.00 in a research note on Thursday, August 14th. They now have an “outperform” rating on the stock. Finally, analysts at CIBC reiterated a “sector perform” rating on shares of Performance Sports Group in a research note on Thursday, August 14th. They now have a $18.00 price target on the stock, up previously from $17.00. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $20.22.
Shares of Performance Sports Group (NYSE:PSG) opened at 17.02 on Tuesday. 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 $16.55 and a 200-day moving average of $14.32. The company has a market cap of $747.7 million and a price-to-earnings ratio of 31.06. Performance Sports Group also saw a large drop in short interest in July. As of July 31st, there was short interest totalling 64,538 shares, a drop 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 short-interest ratio is presently 0.7 days. Approximately 0.2% of the shares of the stock are short sold.
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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