PriceSmart (NASDAQ:PSMT) Reaches New 12-Month High – What’s Next?

PriceSmart, Inc. (NASDAQ:PSMT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $126.24 and last traded at $126.0180, with a volume of 168836 shares changing hands. The stock had previously closed at $117.57.

Analyst Upgrades and Downgrades

PSMT has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (a-)” rating on shares of PriceSmart in a research report on Monday. Wall Street Zen raised shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

PriceSmart Stock Performance

The company’s 50-day simple moving average is $119.37 and its 200-day simple moving average is $111.67. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 26.51 and a beta of 0.84. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.08). The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. On average, analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current year.

Insider Transactions at PriceSmart

In related news, EVP Paul Kovaleski sold 1,305 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly 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. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John D. Hildebrandt sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer directly owned 115,615 shares of the company’s stock, valued at $13,307,286.50. This represents a 7.96% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,460 shares of company stock worth $2,546,968. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PriceSmart

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in 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 buying an additional 252 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in PriceSmart during the 2nd quarter worth about $28,000. First Horizon Corp acquired a new stake in PriceSmart during the 3rd quarter worth about $30,000. Steward Partners Investment Advisory LLC raised its position in shares of PriceSmart by 52.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of PriceSmart in the 3rd quarter valued at about $39,000. 80.46% 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. 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.