Vista Outdoors Cancels ICR Conference Appearance Due To 'Unforeseen Scheduling Conflict'

Shares of Vista Outdoor Inc VSTO rose to an intra-day high of $37.87 following reports the company cancelled its scheduled appearance at the 2017 ICR Conference.

The ICR Conference is one of the largest investment conferences of the year. More than 150 public and private companies typically take the stage at the event and the crowd includes institutional investors, private equity professionals, equity research analysts and media.

Vista Outdoor was scheduled to present at the event, but a spokesperson confirmed with Benzinga it has withdrawn its participation due to a "scheduling conflict."

The company then updated the language on its citation for the ICR Conference cancellation, noting that the scheduling conflict was "unforeseen."

The stock went on to erase most of its gains and by noon, shares were trading at $37.36, up 1.25 percent on the day.

Possible Reasons

There are several reasons why a company would withdraw its participation from a conference - one of the most common reasons being a scheduling conflict.

Investors and traders more often than not tend to assume that the cancellation of an investor conference is due to a pending M&A announcement.

Vista Outdoor acquired Camp Chef for $74 million in cash back in early September, but there hasn't been any talk of the company seeking any strategic alternatives, including a sale of itself.

Other reasons for a cancelled presentation include personal reasons such as a death in the presenter's family or weather-related issues.