Performance Sports Group Sets New 1-Year High at $17.71 (PSG)
Performance Sports Group (NYSE:PSG) shares reached a new 52-week high during trading on Tuesday , American Banking News reports. The stock traded as high as $17.71 and last traded at $17.24, with a volume of 56,445 shares. The stock had previously closed at $17.02.
PSG has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.22.
The stock’s 50-day moving average is $16.55 and its 200-day moving average is $14.32. The company has a market cap of $756.5 million and a price-to-earnings ratio of 31.52. Performance Sports Group also was the recipient of a significant 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. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 93,577 shares, the days-to-cover ratio is currently 0.7 days.
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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