Investment analysts at Craig Hallum initiated coverage on shares of Performance Sports Group Ltd. (NYSE:PSG) in a report issued on Monday. The firm set a “hold” rating and a $4.00 price target on the stock. Craig Hallum’s price target points to a potential upside of 9.59% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Royal Bank Of Canada cut Performance Sports Group from a “sector perform” rating to an “underperform” rating in a research report on Monday, August 22nd. RBC Capital Markets cut Performance Sports Group from a “sector perform” rating to an “underperform” rating in a research report on Monday, August 22nd. Bank of America Corp. reaffirmed a “hold” rating on shares of Performance Sports Group in a research report on Wednesday, August 17th. DA Davidson cut Performance Sports Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $4.00 to $2.00 in a research report on Tuesday, August 16th. Finally, Wedbush cut Performance Sports Group from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $2.50 in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.13.

Analyst Recommendations for Performance Sports Group (NYSE:PSG)

Performance Sports Group (NYSE:PSG) opened at 3.65 on Monday. Performance Sports Group has a 12 month low of $1.18 and a 12 month high of $14.43. The firm’s market cap is $166.32 million. The stock has a 50 day moving average price of $2.90 and a 200 day moving average price of $3.23.

In other news, major shareholder Brookfield Asset Management In purchased 154,402 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were purchased at an average cost of $3.56 per share, for a total transaction of $549,671.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several large investors have recently added to or reduced their stakes in the stock. Sagard Capital Partners Management Corp raised its stake in Performance Sports Group by 12.5% in the second quarter. Sagard Capital Partners Management Corp now owns 7,721,599 shares of the company’s stock valued at $23,165,000 after buying an additional 858,911 shares in the last quarter. Royal Bank of Canada raised its stake in Performance Sports Group by 40.4% in the second quarter. Royal Bank of Canada now owns 2,518,263 shares of the company’s stock valued at $7,554,000 after buying an additional 725,085 shares in the last quarter. Boston Partners raised its stake in Performance Sports Group by 5,331.1% in the second quarter. Boston Partners now owns 2,492,886 shares of the company’s stock valued at $7,479,000 after buying an additional 2,446,986 shares in the last quarter. Beach Point Capital Management LP bought a new stake in Performance Sports Group during the second quarter valued at $4,247,000. Finally, Emerald Acquisition Ltd. bought a new stake in Performance Sports Group during the second quarter valued at $3,581,000. Institutional investors own 77.70% of the company’s stock.

Performance Sports Group Company Profile

Performance Sports Group Ltd. is engaged in the design, manufacture and distribution of performance sports equipment for ice hockey, roller hockey, baseball and softball, lacrosse, as well as related apparel and accessories, including soccer apparel. The Company’s segments include Hockey, Baseball/Softball and Other Sports.

5 Day Chart for NYSE:PSG

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