PriceSmart (NASDAQ:PSMT) Hits New 52-Week High – Should You Buy?

PriceSmart, Inc. (NASDAQ:PSMT)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $183.93 and last traded at $183.7350, with a volume of 5615 shares trading hands. The stock had previously closed at $182.02.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, PriceSmart presently has an average rating of “Buy”.

PriceSmart Price Performance

The firm has a market capitalization of $5.68 billion, a P/E ratio of 36.17 and a beta of 0.78. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $165.32 and a 200-day moving average price of $149.86.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.05. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year.

Insiders Place Their Bets

In other PriceSmart news, Director Gordon H. Hanson sold 635 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the transaction, the director owned 8,149 shares in the company, valued at $1,284,282.40. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Francisco Velasco sold 338 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the sale, the executive vice president directly owned 75,659 shares in the company, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,232 shares of company stock valued at $504,198 over the last three months. 17.00% of the stock is owned by company insiders.

Institutional Trading of PriceSmart

Several institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 252 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the period. CENTRAL TRUST Co bought a new stake in shares of PriceSmart during the 4th quarter worth approximately $32,000. Osaic Holdings Inc. lifted its stake in shares of PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after acquiring an additional 179 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in PriceSmart by 45,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after acquiring an additional 456 shares during the period. Institutional investors own 80.46% of the company’s stock.

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.