Performance Sports Group Sees Large Decrease in Short Interest (PSG)
Performance Sports Group (NYSE:PSG) was the target of a significant drop in short interest in the month of 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, Stock Ratings Network.com reports. Based on an average trading volume of 93,577 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the company’s shares are sold short.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of Performance Sports Group in a research note on Tuesday. They set an “overweight” rating and a $21.00 price target on the stock. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $20.22.
Shares of Performance Sports Group (NYSE:PSG) opened at 17.02 on Tuesday. Performance Sports Group has a 52 week low of $15.663 and a 52 week 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 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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