Performance Sports Group Ltd. (PSG) Given Average Rating of “Hold” by Analysts
Performance Sports Group Ltd. (NYSE:PSG) has earned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.53.
Several brokerages have issued reports on PSG. RBC Capital Markets downgraded shares of Performance Sports Group from a “sector perform” rating to an “underperform” rating in a research note on Monday, August 22nd. Wedbush cut shares of Performance Sports Group from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $2.50 in a report on Tuesday, August 16th. Craig Hallum initiated coverage on shares of Performance Sports Group in a report on Monday, September 19th. They set a “hold” rating and a $4.00 price target on the stock. Roth Capital restated a “buy” rating on shares of Performance Sports Group in a report on Tuesday, July 12th. Finally, Bank of America Corp. restated a “hold” rating on shares of Performance Sports Group in a report on Wednesday, August 17th.
Shares of Performance Sports Group (NYSE:PSG) traded up 15.88% during mid-day trading on Tuesday, hitting $4.16. The stock had a trading volume of 412,890 shares. The company’s market cap is $189.55 million. The firm’s 50 day moving average price is $3.33 and its 200-day moving average price is $3.23. Performance Sports Group has a one year low of $1.18 and a one year high of $13.70.
In other news, major shareholder Brookfield Asset Management In purchased 150,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was bought at an average cost of $3.65 per share, for a total transaction of $547,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted 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 worth $7,554,000 after buying an additional 725,085 shares during the period. Numeric Investors LLC bought a new position in shares of Performance Sports Group during the second quarter worth approximately $186,000. Toronto Dominion Bank raised its position in shares of Performance Sports Group by 275.0% in the second quarter. Toronto Dominion Bank now owns 35,585 shares of the company’s stock worth $107,000 after buying an additional 26,096 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Performance Sports Group during the second quarter worth approximately $144,000. Finally, AQR Capital Management LLC raised its position in shares of Performance Sports Group by 224.7% in the second quarter. AQR Capital Management LLC now owns 227,094 shares of the company’s stock worth $681,000 after buying an additional 157,149 shares in the last quarter. 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.
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