PriceSmart (NASDAQ:PSMT) Downgraded to Hold Rating by Wall Street Zen

PriceSmart (NASDAQ:PSMT) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of PriceSmart in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, PriceSmart has an average rating of “Strong Buy”.

PriceSmart Stock Down 0.7%

NASDAQ PSMT opened at $123.14 on Friday. The business has a fifty day moving average price of $119.97 and a 200 day moving average price of $112.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 1.28. The company has a market cap of $3.80 billion, a P/E ratio of 25.98 and a beta of 0.84. PriceSmart has a one year low of $81.25 and a one year high of $126.70.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Thursday, October 30th. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts anticipate that PriceSmart will post 5.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO John D. Hildebrandt sold 10,000 shares of PriceSmart stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $115.10, for a total transaction of $1,151,000.00. Following the completion of the sale, the chief operating officer directly owned 115,615 shares of the company’s stock, valued at approximately $13,307,286.50. The trade was a 7.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Kovaleski sold 1,305 shares of PriceSmart stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $114.55, for a total value of $149,487.75. Following the sale, the executive vice president directly owned 43,109 shares of the company’s stock, valued at $4,938,135.95. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,460 shares of company stock valued at $2,546,968 over the last ninety days. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PriceSmart

A number of hedge funds have recently modified their holdings of PSMT. CIBC Bancorp USA Inc. acquired a new stake in PriceSmart during the 3rd quarter worth approximately $332,000. Advisory Services Network LLC purchased a new position in PriceSmart in the 3rd quarter valued at approximately $127,000. CANADA LIFE ASSURANCE Co increased its position in shares of PriceSmart by 1.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 28,617 shares of the company’s stock valued at $3,509,000 after buying an additional 452 shares in the last quarter. Progeny 3 Inc. purchased a new stake in shares of PriceSmart in the 3rd quarter worth about $27,825,000. Finally, Punch & Associates Investment Management Inc. boosted its position in shares of PriceSmart by 5.6% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 159,681 shares of the company’s stock worth $19,352,000 after buying an additional 8,480 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.