PriceSmart (NASDAQ:PSMT) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of PriceSmart (NASDAQ:PSMT) from a buy rating to a hold rating in a research report released on Saturday, January 20th.

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 research analysts have also weighed in on PSMT. Ifs Securities assumed coverage on shares of PriceSmart in a research note on Monday, September 25th. They issued a market perform rating and a $85.00 price objective on the stock. Roth Capital reaffirmed a buy rating and issued a $100.00 price objective on shares of PriceSmart in a research note on Monday, October 2nd. BidaskClub raised shares of PriceSmart from a sell rating to a hold rating in a research report on Thursday, January 4th. Scotia Howard Weill reissued a sector perform rating on shares of PriceSmart in a research report on Friday, January 5th. Finally, Scotiabank lowered shares of PriceSmart to a hold rating and set a $90.00 price target on the stock. in a research report on Friday, January 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $92.50.

Shares of PriceSmart (NASDAQ:PSMT) opened at $78.60 on Friday. The firm has a market cap of $2,465.73, a price-to-earnings ratio of 27.10 and a beta of 1.29. PriceSmart has a 12-month low of $78.00 and a 12-month 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.

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 Thomson Reuters’ consensus estimate of $0.82 by ($0.08). The company had revenue of $767.10 million for the quarter, compared to the consensus estimate of $764.67 million. PriceSmart had a return on equity of 12.61% and a net margin of 2.92%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. research analysts anticipate that PriceSmart will post 3.2 EPS for the current year.

The business also recently disclosed a semiannual dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, August 14th. This represents a yield of 0.8%. PriceSmart’s dividend payout ratio (DPR) is presently 24.14%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. increased its holdings in PriceSmart by 18.5% during the second quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock worth $124,000 after buying an additional 220 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in PriceSmart by 16.4% during the second quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock worth $128,000 after buying an additional 206 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in PriceSmart by 12.1% during the second quarter. Ameritas Investment Partners Inc. now owns 1,940 shares of the company’s stock worth $170,000 after buying an additional 210 shares during the last quarter. Victory Capital Management Inc. increased its holdings in PriceSmart by 17.7% during the second quarter. Victory Capital Management Inc. now owns 1,965 shares of the company’s stock worth $172,000 after buying an additional 295 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in PriceSmart during the fourth quarter worth about $186,000. Institutional investors and hedge funds own 73.53% of the company’s stock.

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PriceSmart Company Profile

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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