Performance Sports Group Ltd (PSG) is Downgraded by Wedbush to Neutral, Lowers Price Target to $ 2.50

Performance Sports Group Ltd (PSG) was Downgraded by Wedbush to ” Neutral” while Lowering the Price Target of the company shares to $ 2.50 from a previous price target of $5 . Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Aug 16, 2016.

Many Wall Street Analysts have commented on Performance Sports Group Ltd. Shares were Reiterated by Wunderlich on Jun 9, 2016 to “Hold” and Lowered the Price Target to $ 4 from a previous price target of $6 .

On the company’s financial health, Performance Sports Group Ltd reported $-0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $-0.29. The company had revenue of $126.10 million for the quarter, compared to analysts expectations of $127.58 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

Performance Sports Group Ltd closed down -1.63 points or -46.84% at $1.85 with 1,46,54,290 shares getting traded on Monday. Post opening the session at $3.17, the shares hit an intraday low of $1.18 and an intraday high of $3.18 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 13, 2016, Daniel M. Friedberg (director) purchased 80,000 shares at $3.52 per share price. According to the SEC, on May 11, 2016, Angela Bass (EVP, Global Human Resources) purchased 1,000 shares at $3.58 per share price. On Apr 26, 2016, Mark J Vendetti (CFO) purchased 20,000 shares at $3.60 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Hockey segment includes the Bauer and Mission brands. The Baseball/Softball segment includes the Easton and Combat brands. Its Other Sports includes the Lacrosse and Soccer operating segments which includes the Maverik and Cascade brands for Lacrosse and the Inaria brand for Soccer. The ice hockey products include skates helmets protective gear sticks team apparel and accessories. The roller hockey products include skates helmets protective gear sticks and accessories. The baseball and softball products include bats gloves helmets protective gear apparel and accessories. The lacrosse products include sticks helmets protective gear and apparel.

Performance Sports Group Ltd

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