Zacks Investment Research cut shares of PriceSmart (NASDAQ:PSMT) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “PriceSmart, Inc. is primarily engaged in the operation of membership shopping warehouses in international markets. The company’s business consists of international membership shopping stores similar to, but smaller in size than, warehouse clubs in the United States. The warehouses sell basic consumer goods with an emphasis on quality, low prices and efficient operations. By offering low prices on brand name and private label merchandise, the warehouses seek to generate sufficient sales volumes to operate profitably at relatively low gross margins. “
A number of other equities research analysts have also recently weighed in on the company. TheStreet raised PriceSmart from a c+ rating to a b rating in a report on Monday, October 23rd. Roth Capital reaffirmed a buy rating and set a $100.00 price target on shares of PriceSmart in a report on Monday, October 2nd. Scotiabank cut PriceSmart to a hold rating and set a $90.00 price target for the company. in a report on Friday, January 5th. BidaskClub raised PriceSmart from a sell rating to a hold rating in a report on Thursday, January 4th. Finally, Ifs Securities assumed coverage on PriceSmart in a report on Monday, September 25th. They set a market perform rating and a $85.00 price target for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $91.75.
Shares of PriceSmart (NASDAQ PSMT) traded up $0.70 on Friday, hitting $83.00. The stock had a trading volume of 201,100 shares, compared to its average volume of 249,889. PriceSmart has a fifty-two week low of $78.00 and a fifty-two week high of $94.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.44 and a current ratio of 1.39. The firm has a market cap of $2,523.49, a PE ratio of 28.62 and a beta of 1.31.
PriceSmart (NASDAQ:PSMT) last issued its earnings results on Thursday, January 4th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.08). PriceSmart had a return on equity of 12.61% and a net margin of 2.92%. The company had revenue of $767.10 million during the quarter, compared to analyst estimates of $764.67 million. During the same period in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. analysts anticipate that PriceSmart will post 3.2 earnings per share for the current fiscal year.
In related news, EVP John D. Hildebrandt sold 1,614 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $83.47, for a total transaction of $134,720.58. Following the completion of the sale, the executive vice president now directly owns 17,237 shares of the company’s stock, valued at approximately $1,438,772.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William J. Naylon sold 2,400 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $80.05, for a total value of $192,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,997 shares of company stock valued at $3,683,782 over the last ninety days. Insiders own 28.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PSMT. Citigroup Inc. boosted its position in PriceSmart by 18.5% in the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after buying an additional 220 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in PriceSmart by 16.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after buying an additional 206 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in PriceSmart by 12.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,940 shares of the company’s stock valued at $170,000 after buying an additional 210 shares during the last quarter. Victory Capital Management Inc. boosted its position in PriceSmart by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,965 shares of the company’s stock valued at $172,000 after buying an additional 295 shares during the last quarter. Finally, Advisor Group Inc. boosted its position in PriceSmart by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 2,433 shares of the company’s stock valued at $213,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.
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PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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