PriceSmart (NASDAQ:PSMT) Hits New 52-Week High After Strong Earnings

PriceSmart, Inc. (NASDAQ:PSMT)’s stock price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $135.53 and last traded at $131.9550, with a volume of 58312 shares traded. The stock had previously closed at $127.62.

The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The business’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PSMT shares. Wall Street Zen raised shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings restated a “buy (a-)” rating on shares of PriceSmart in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Insider Buying and Selling at PriceSmart

In other PriceSmart 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Kovaleski sold 1,305 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $114.55, for a total value of $149,487.75. Following the completion of the transaction, the executive vice president owned 43,109 shares in the company, valued at $4,938,135.95. This represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 12,156 shares of company stock valued at $1,400,429. 17.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

PriceSmart Stock Performance

The stock has a market cap of $4.14 billion, a P/E ratio of 27.44 and a beta of 0.74. The stock has a fifty day simple moving average of $123.07 and a 200-day simple moving average of $116.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.57 and a current ratio of 1.33.

PriceSmart Company Profile

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.