Howard Weil Downgrades PriceSmart (PSMT) to Sector Perform

PriceSmart (NASDAQ:PSMT) was downgraded by equities researchers at Howard Weil from a “sector outperform” rating to a “sector perform” rating in a note issued to investors on Friday.

Several other equities analysts have also weighed in on PSMT. Zacks Investment Research upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Ifs Securities started coverage on shares of PriceSmart in a research note on Monday, September 25th. They issued a “market perform” rating and a $85.00 target price for the company. Roth Capital reaffirmed a “buy” rating and issued a $100.00 target price on shares of PriceSmart in a research note on Monday, October 2nd. TheStreet raised shares of PriceSmart from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Finally, BidaskClub downgraded shares of PriceSmart from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $92.75.

Shares of PriceSmart (NASDAQ:PSMT) traded down $6.60 during midday trading on Friday, reaching $81.25. 488,484 shares of the company traded hands, compared to its average volume of 252,250. PriceSmart has a fifty-two week low of $78.00 and a fifty-two week high of $94.00. The firm has a market capitalization of $2,470.00, a price-to-earnings ratio of 27.92 and a beta of 1.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.55.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data 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 3.03% and a return on equity of 13.32%. The business had revenue of $767.10 million during the quarter, compared to analyst estimates of $764.67 million. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts anticipate that PriceSmart will post 3.2 earnings per share for the current fiscal year.

In other PriceSmart news, EVP John D. Hildebrandt sold 1,614 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $83.47, for a total value of $134,720.58. Following the completion of the sale, the executive vice president now owns 17,237 shares of the company’s stock, valued at $1,438,772.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Heffner sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $80.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief financial officer now directly owns 27,121 shares of the company’s stock, valued at approximately $2,169,680. The disclosure for this sale can be found here. Insiders sold 44,997 shares of company stock valued at $3,683,782 in the last ninety days. Insiders own 28.00% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Citigroup Inc. increased its position in shares of PriceSmart by 18.5% during the second quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock worth $124,000 after acquiring an additional 220 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of 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 acquiring an additional 206 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of 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 acquiring an additional 210 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of 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 acquiring an additional 295 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of PriceSmart by 1.6% during the second quarter. Advisor Group Inc. now owns 2,433 shares of the company’s stock worth $213,000 after acquiring an additional 39 shares in the last quarter. 72.83% of the stock is 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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