PriceSmart, Inc. (NASDAQ:PSMT) Rating Increased to Hold at BidaskClub
PriceSmart, Inc. (NASDAQ:PSMT) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
Separately, Roth Capital set a $102.00 target price on shares of PriceSmart and gave the stock a “buy” rating in a research report on Saturday, April 1st.
Shares of PriceSmart (PSMT) traded down 8.07% during trading on Thursday, hitting $80.90. 700,467 shares of the stock were exchanged. The firm has a market capitalization of $2.43 billion, a P/E ratio of 27.02 and a beta of 1.26. PriceSmart has a 52 week low of $75.80 and a 52 week high of $94.86. The firm has a 50 day moving average price of $87.89 and a 200 day moving average price of $87.71.
PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, July 5th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by $0.05. PriceSmart had a return on equity of 14.16% and a net margin of 3.09%. The business had revenue of $730.30 million for the quarter, compared to analyst estimates of $734.80 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts forecast that PriceSmart will post $3.17 EPS for the current fiscal year.
In other news, Director Mitchell G. Lynn sold 2,436 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $86.23, for a total value of $210,056.28. Following the transaction, the director now owns 405 shares in the company, valued at approximately $34,923.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell G. Lynn sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $86.53, for a total transaction of $259,590.00. Following the completion of the transaction, the director now owns 5,841 shares in the company, valued at approximately $505,421.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,536 shares of company stock worth $565,093. 28.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of PriceSmart by 11.0% in the first quarter. Vanguard Group Inc. now owns 2,016,257 shares of the company’s stock worth $185,899,000 after buying an additional 200,045 shares during the period. Wellington Management Group LLP increased its position in shares of PriceSmart by 1.7% in the first quarter. Wellington Management Group LLP now owns 1,348,139 shares of the company’s stock worth $124,298,000 after buying an additional 21,936 shares during the period. BlackRock Inc. increased its position in shares of PriceSmart by 76,229.7% in the first quarter. BlackRock Inc. now owns 1,286,919 shares of the company’s stock worth $118,654,000 after buying an additional 1,285,233 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of PriceSmart by 16.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,269,690 shares of the company’s stock worth $117,066,000 after buying an additional 174,683 shares during the period. Finally, Bank of Montreal Can increased its position in shares of PriceSmart by 4.8% in the first quarter. Bank of Montreal Can now owns 910,818 shares of the company’s stock worth $83,978,000 after buying an additional 41,599 shares during the period. Hedge funds and other institutional investors own 71.61% of the company’s stock.
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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