PriceSmart (NASDAQ:PSMT) Stock Rating Reaffirmed by Scotiabank

PriceSmart (NASDAQ:PSMT)‘s stock had its “sector perform” rating restated by equities researchers at Scotiabank in a research note issued to investors on Tuesday, January 9th.

Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of PriceSmart from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Roth Capital restated a “buy” rating and set a $100.00 target price on shares of PriceSmart in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Ifs Securities assumed coverage on shares of PriceSmart in a research report on Monday, September 25th. They set a “market perform” rating and a $85.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. PriceSmart presently has an average rating of “Hold” and an average target price of $92.50.

PriceSmart (NASDAQ:PSMT) opened at $83.90 on Tuesday. PriceSmart has a 52-week low of $78.00 and a 52-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 stock has a market cap of $2,550.00, a price-to-earnings ratio of 28.93 and a beta of 1.29.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Thursday, January 4th. The company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.08). PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. The firm had revenue of $767.10 million during the quarter, compared to analysts’ expectations of $764.67 million. During the same period in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. equities analysts anticipate that PriceSmart will post 3.2 earnings per share for the current fiscal year.

In other news, Director Sherry S. Bahrambeygui sold 16,200 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $81.55, for a total value of $1,321,110.00. Following the completion of the transaction, the director now directly owns 125,813 shares in the company, valued at $10,260,050.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sherry S. Bahrambeygui sold 5,700 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $82.62, for a total transaction of $470,934.00. Following the completion of the transaction, the director now owns 125,813 shares of the company’s stock, valued at $10,394,670.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,383 shares of company stock valued at $3,549,061. 28.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PSMT. Schwab Charles Investment Management Inc. raised its holdings in PriceSmart by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 140,793 shares of the company’s stock valued at $12,334,000 after acquiring an additional 11,705 shares in the last quarter. Rhumbline Advisers raised its holdings in PriceSmart by 5.4% in the second quarter. Rhumbline Advisers now owns 26,442 shares of the company’s stock valued at $2,316,000 after acquiring an additional 1,348 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PriceSmart by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 109,050 shares of the company’s stock worth $9,552,000 after purchasing an additional 3,920 shares during the period. Legal & General Group Plc raised its holdings in shares of PriceSmart by 5.4% during the second quarter. Legal & General Group Plc now owns 7,367 shares of the company’s stock worth $643,000 after purchasing an additional 378 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of PriceSmart by 477.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,836 shares of the company’s stock worth $248,000 after purchasing an additional 2,345 shares during the period. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

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About PriceSmart

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.

Analyst Recommendations for PriceSmart (NASDAQ:PSMT)

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