PriceSmart (PSMT) Downgraded by Scotiabank to Hold

PriceSmart (NASDAQ:PSMT) was downgraded by analysts at Scotiabank to a “hold” rating in a research report issued on Friday. They currently have a $90.00 price target on the stock. Scotiabank’s price objective would suggest a potential upside of 10.77% from the company’s current price.

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

PriceSmart (NASDAQ PSMT) traded down $6.60 during mid-day trading on Friday, hitting $81.25. The stock had a trading volume of 488,484 shares, compared to its average volume of 252,250. The company has a quick ratio of 0.55, a current ratio of 1.40 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2,470.00, a PE ratio of 27.92 and a beta of 1.31. PriceSmart has a 52 week low of $78.00 and a 52 week high of $94.00.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Thursday, January 4th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.08). The firm had revenue of $767.10 million for the quarter, compared to analyst estimates of $764.67 million. PriceSmart had a return on equity of 13.32% and a net margin of 3.03%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. sell-side analysts anticipate that PriceSmart will post 3.2 earnings per share for the current fiscal year.

In other news, Director Sherry S. Bahrambeygui sold 16,200 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $81.55, for a total transaction of $1,321,110.00. Following the transaction, the director now owns 125,813 shares in the company, valued at $10,260,050.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John Heffner sold 3,125 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $80.00, for a total value of $250,000.00. Following the transaction, the chief financial officer now owns 27,121 shares in the company, valued at approximately $2,169,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,997 shares of company stock worth $3,683,782. 28.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. grew its position 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 in the last quarter. Public Employees Retirement System of Ohio grew its position 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 in the last quarter. Ameritas Investment Partners Inc. grew its position 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 in the last quarter. Victory Capital Management Inc. grew its position 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 in the last quarter. Finally, Advisor Group Inc. grew its position in 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 buying an additional 39 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

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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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