PriceSmart (NASDAQ:PSMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “PriceSmart, Inc. is primarily engaged in the operation of membership shopping warehouses in international markets. The company’s business consists of international membership shopping stores similar to, but smaller in size than, warehouse clubs in the United States. The warehouses sell basic consumer goods with an emphasis on quality, low prices and efficient operations. By offering low prices on brand name and private label merchandise, the warehouses seek to generate sufficient sales volumes to operate profitably at relatively low gross margins. “
Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded PriceSmart from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Roth Capital restated a “buy” rating and set a $100.00 price objective on shares of PriceSmart in a report on Monday, October 2nd. Scotiabank cut PriceSmart to a “hold” rating and set a $90.00 price objective for the company. in a report on Friday, January 5th. BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Ifs Securities started coverage on PriceSmart in a report on Monday, September 25th. They set a “market perform” rating and a $85.00 price objective for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $91.75.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Thursday, January 4th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.08). PriceSmart had a return on equity of 12.61% and a net margin of 2.92%. The firm had revenue of $767.10 million for the quarter, compared to the consensus estimate of $764.67 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 3.7% on a year-over-year basis. analysts forecast that PriceSmart will post 3.2 EPS for the current fiscal year.
In related news, COO William J. Naylon sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $80.05, for a total value of $192,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chong Jesus Von sold 620 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $80.28, for a total value of $49,773.60. Following the completion of the sale, the executive vice president now owns 27,001 shares of the company’s stock, valued at $2,167,640.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,997 shares of company stock valued at $3,683,782. Corporate insiders own 28.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. GW&K Investment Management LLC boosted its stake in shares of PriceSmart by 5.5% in the fourth quarter. GW&K Investment Management LLC now owns 330,709 shares of the company’s stock valued at $28,474,000 after buying an additional 17,250 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of PriceSmart by 9.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 163,831 shares of the company’s stock valued at $14,106,000 after buying an additional 14,657 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PriceSmart by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 654,058 shares of the company’s stock valued at $58,374,000 after buying an additional 12,039 shares during the period. Brown Advisory Inc. boosted its stake in shares of PriceSmart by 48.8% in the third quarter. Brown Advisory Inc. now owns 302,536 shares of the company’s stock valued at $27,001,000 after buying an additional 99,167 shares during the period. Finally, Thornburg Investment Management Inc. boosted its stake in shares of PriceSmart by 3.6% in the third quarter. Thornburg Investment Management Inc. now owns 133,225 shares of the company’s stock valued at $11,890,000 after buying an additional 4,652 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.
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PriceSmart Company Profile
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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