PriceSmart, Inc. (NASDAQ:PSMT) Upgraded to Hold by BidaskClub
PriceSmart, Inc. (NASDAQ:PSMT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Monday.
A number of other equities analysts have also recently issued reports on PSMT. Roth Capital set a $102.00 target price on PriceSmart and gave the stock a “buy” rating in a report on Saturday, April 1st. Zacks Investment Research cut PriceSmart from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, TheStreet cut PriceSmart from a “b” rating to a “c+” rating in a report on Thursday, July 13th.
PriceSmart (NASDAQ:PSMT) traded down 0.77% during trading on Monday, hitting $84.00. 133,728 shares of the stock traded hands. PriceSmart has a one year low of $75.80 and a one year high of $94.40. The company has a 50-day moving average price of $85.68 and a 200 day moving average price of $87.36. The stock has a market cap of $2.52 billion, a PE ratio of 27.46 and a beta of 1.26.
PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $734.80 million. During the same quarter last year, the business posted $0.55 EPS. PriceSmart’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts expect that PriceSmart will post $3.06 earnings per share for the current year.
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In other PriceSmart news, Director Mitchell G. Lynn sold 2,436 shares of the firm’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 transaction, the director now owns 405 shares in the company, valued at $34,923.15. The sale was disclosed in a document filed with the SEC, which is available through this link. 28.00% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC bought a new position in shares of PriceSmart during the fourth quarter worth about $361,000. Norges Bank bought a new position in shares of PriceSmart during the fourth quarter worth about $13,240,000. Quadrature Capital Ltd acquired a new position in PriceSmart during the fourth quarter valued at $475,000. Perigon Wealth Management LLC boosted its position in PriceSmart by 1.5% in the fourth quarter. Perigon Wealth Management LLC now owns 10,728 shares of the company’s stock valued at $944,000 after buying an additional 161 shares during the period. Finally, Teachers Advisors LLC boosted its position in PriceSmart by 6.4% in the fourth quarter. Teachers Advisors LLC now owns 43,047 shares of the company’s stock valued at $3,594,000 after buying an additional 2,593 shares during the period. Hedge funds and other institutional investors own 73.66% 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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