PriceSmart, Inc. (NASDAQ:PSMT) Downgraded by TheStreet
PriceSmart, Inc. (NASDAQ:PSMT) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a report issued on Thursday.
A number of other brokerages have also recently weighed in on PSMT. Roth Capital set a $102.00 price target on PriceSmart and gave the stock a “buy” rating in a research report on Saturday, April 1st. BidaskClub raised PriceSmart from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research cut PriceSmart from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th.
PriceSmart (PSMT) traded up 0.49% during trading on Thursday, hitting $82.55. The stock had a trading volume of 128,492 shares. PriceSmart has a 1-year low of $75.80 and a 1-year high of $94.40. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 26.99 and a beta of 1.26. The firm’s 50 day moving average is $87.89 and its 200 day moving average is $87.71.
PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.05. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The company had revenue of $730.30 million during the quarter, compared to analyst estimates of $734.80 million. During the same period in the prior year, the firm earned $0.55 EPS. PriceSmart’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts anticipate that PriceSmart will post $3.06 earnings per share for the current year.
In related news, Director Mitchell G. Lynn sold 2,436 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $86.23, for a total transaction of $210,056.28. Following the completion of the transaction, the director now owns 405 shares of the company’s stock, valued at approximately $34,923.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.00% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of PSMT. Quantitative Investment Management LLC acquired a new position in PriceSmart during the first quarter valued at $645,000. Swiss National Bank boosted its position in PriceSmart by 1.6% in the first quarter. Swiss National Bank now owns 32,500 shares of the company’s stock valued at $2,997,000 after buying an additional 500 shares in the last quarter. Creative Planning boosted its position in PriceSmart by 166.1% in the first quarter. Creative Planning now owns 1,823 shares of the company’s stock valued at $168,000 after buying an additional 1,138 shares in the last quarter. Point72 Asset Management L.P. boosted its position in PriceSmart by 45.3% in the first quarter. Point72 Asset Management L.P. now owns 114,327 shares of the company’s stock valued at $10,541,000 after buying an additional 35,629 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in PriceSmart during the first quarter valued at $160,000. 72.23% of the stock is owned by institutional investors and hedge funds.
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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