PriceSmart (NASDAQ:PSMT – Get Rating) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.
Several other analysts have also recently issued reports on PSMT. Scotiabank cut PriceSmart from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $96.00 to $77.00 in a research note on Tuesday, November 29th. TheStreet cut PriceSmart from a “b-” rating to a “c+” rating in a research report on Friday, September 23rd.
PriceSmart Trading Down 1.8 %
Shares of NASDAQ PSMT opened at $66.51 on Thursday. The stock’s 50 day moving average price is $65.81 and its two-hundred day moving average price is $67.23. PriceSmart has a 52-week low of $56.29 and a 52-week high of $88.30. The stock has a market capitalization of $2.06 billion, a P/E ratio of 19.68 and a beta of 0.76. The company has a quick ratio of 0.53, a current ratio of 1.34 and a debt-to-equity ratio of 0.10.
PriceSmart (NASDAQ:PSMT – Get Rating) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.75 earnings per share (EPS) for the quarter. PriceSmart had a return on equity of 10.85% and a net margin of 2.57%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. PriceSmart’s revenue for the quarter was up 12.3% compared to the same quarter last year.
Insider Transactions at PriceSmart
In related news, EVP Chong Jesus Von sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $71.69, for a total value of $164,887.00. Following the sale, the executive vice president now directly owns 26,134 shares in the company, valued at approximately $1,873,546.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Chong Jesus Von sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $71.69, for a total value of $164,887.00. Following the sale, the executive vice president now directly owns 26,134 shares in the company, valued at approximately $1,873,546.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Philanthropies Foundatio Price sold 10,380 shares of the firm’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $58.28, for a total value of $604,946.40. Following the completion of the sale, the insider now owns 3,153,755 shares in the company, valued at $183,800,841.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,421 shares of company stock worth $3,966,681. 20.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On PriceSmart
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Martingale Asset Management L P raised its holdings in shares of PriceSmart by 0.7% during the third quarter. Martingale Asset Management L P now owns 22,139 shares of the company’s stock worth $1,276,000 after acquiring an additional 150 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in PriceSmart by 1.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 9,921 shares of the company’s stock worth $711,000 after purchasing an additional 187 shares during the period. Los Angeles Capital Management LLC lifted its position in PriceSmart by 2.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 7,175 shares of the company’s stock worth $514,000 after buying an additional 190 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in PriceSmart by 0.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 45,160 shares of the company’s stock worth $3,235,000 after buying an additional 200 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of PriceSmart by 1.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 21,203 shares of the company’s stock valued at $1,716,000 after purchasing an additional 218 shares during the period. 80.08% of the stock is owned by 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. Its warehouse clubs sell locally and regionally sourced goods, essential goods, direct-from-farm fresh produce, private label consumer products, prepared foods, and fresh-baked goods under the brand name Member’s Selection.