Roth Capital Reiterates Buy On Performance Sports Group, $20 PT
In a research report issued today, Roth Capital analyst Dave King reiterated a Buy rating on Performance Sports Group (NYSE:PSG) with a price target of $20.00.
King noted, “As we expected, core EPS of $0.51 met consensus as stronger revenue offset lower gross margin and higher expenses. The company experienced strong growth across all major categories, particularly apparel, hockey sticks, and baseball bats. Management announced a 5-year initiative to improve pre-tax profitability by ~50%. We continue to like PSG for its leading brands, easily scalable R&D platform, and strong management team.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Dave King has a total average return of -5.3% and a 31.7% success rate. King has a 0.6% average return when recommending PSG, and is ranked #3059 out of 3319 analysts.