PriceSmart (PSMT) Given a $90.00 Price Target at Scotiabank

PriceSmart (NASDAQ:PSMT) received a $90.00 price target from investment analysts at Scotiabank in a research report issued on Thursday. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 12.01% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of PriceSmart from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Scotia Howard Weill reaffirmed a “sector perform” rating on shares of PriceSmart in a research note on Friday, January 5th. Howard Weil downgraded shares of PriceSmart from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, January 5th. BidaskClub raised shares of PriceSmart from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Zacks Investment Research raised shares of PriceSmart from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. PriceSmart presently has a consensus rating of “Hold” and a consensus price target of $92.50.

Shares of PriceSmart (PSMT) traded down $1.75 during midday trading on Thursday, reaching $80.35. 76,587 shares of the company were exchanged, compared to its average volume of 217,609. PriceSmart has a 1 year low of $78.00 and a 1 year high of $94.00. The firm has a market capitalization of $2,540.22, a price-to-earnings ratio of 27.74 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.44 and a current ratio of 1.39.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Thursday, January 4th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $764.67 million. During the same quarter last year, the business posted $0.82 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. analysts anticipate that PriceSmart will post 3.2 EPS for the current fiscal year.

In other news, EVP Chong Jesus Von sold 620 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 27,001 shares of the company’s stock, valued at approximately $2,167,640.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John Heffner sold 3,125 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 ninety days, insiders have sold 6,145 shares of company stock worth $491,894. 28.00% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of PSMT. Citigroup Inc. raised its stake in shares of PriceSmart by 18.5% in the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after acquiring an additional 220 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of PriceSmart by 16.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after acquiring an additional 206 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of PriceSmart by 12.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,940 shares of the company’s stock valued at $170,000 after acquiring an additional 210 shares during the period. SG Americas Securities LLC purchased a new position in shares of PriceSmart in the 4th quarter valued at $186,000. Finally, Advisor Group Inc. raised its stake in shares of PriceSmart by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 2,433 shares of the company’s stock valued at $213,000 after acquiring an additional 39 shares during the period. 73.67% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for PriceSmart (NASDAQ:PSMT)

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