PriceSmart (NASDAQ:PSMT) Upgraded at Wall Street Zen

PriceSmart (NASDAQ:PSMT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of PriceSmart in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

PriceSmart Trading Up 0.5%

NASDAQ:PSMT opened at $123.33 on Friday. PriceSmart has a 12-month low of $81.25 and a 12-month high of $131.46. The company has a current ratio of 1.34, a quick ratio of 0.57 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $122.15 and its 200-day simple moving average is $115.50. The firm has a market cap of $3.80 billion, a P/E ratio of 25.59 and a beta of 0.74.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data 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). The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. PriceSmart had a net margin of 2.81% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. Equities analysts anticipate that PriceSmart will post 5.28 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gordon H. Hanson sold 851 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $117.44, for a total value of $99,941.44. Following the completion of the transaction, the director owned 7,653 shares in the company, valued at $898,768.32. This trade represents a 10.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Francisco Velasco sold 550 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $122.82, for a total transaction of $67,551.00. Following the completion of the sale, the executive vice president owned 80,548 shares of the company’s stock, valued at $9,892,905.36. This trade represents a 0.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 12,706 shares of company stock worth $1,467,980. 17.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. First Horizon Corp acquired a new stake in shares of PriceSmart during the third quarter valued at $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in PriceSmart in the 2nd quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its stake in shares of PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of PriceSmart during the 3rd quarter worth about $39,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of PriceSmart by 52.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.