PriceSmart (PSMT) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of PriceSmart (NASDAQ:PSMT) from a buy rating to a hold rating in a research note published on Friday morning.
According to Zacks, “PriceSmart, Inc. is primarily engaged in the operation of membership shopping warehouses in international markets. The company’s business consists of international membership shopping stores similar to, but smaller in size than, warehouse clubs in the United States. The warehouses sell basic consumer goods with an emphasis on quality, low prices and efficient operations. By offering low prices on brand name and private label merchandise, the warehouses seek to generate sufficient sales volumes to operate profitably at relatively low gross margins. “
Several other research analysts have also issued reports on PSMT. TheStreet upgraded PriceSmart from a c+ rating to a b rating in a research report on Monday, October 23rd. Roth Capital restated a buy rating and issued a $100.00 price target on shares of PriceSmart in a research report on Monday, October 2nd. Scotiabank lowered PriceSmart to a hold rating and set a $90.00 price target on the stock. in a research report on Friday, January 5th. BidaskClub upgraded PriceSmart from a sell rating to a hold rating in a research report on Thursday, January 4th. Finally, Ifs Securities initiated coverage on PriceSmart in a research report on Monday, September 25th. They issued a market perform rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. PriceSmart currently has an average rating of Hold and an average price target of $91.75.
Shares of PriceSmart (NASDAQ:PSMT) traded up $0.70 on Friday, reaching $83.00. The company’s stock had a trading volume of 201,100 shares, compared to its average volume of 249,889. The company has a market cap of $2,523.49, a price-to-earnings ratio of 28.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.39 and a quick ratio of 0.44. PriceSmart has a 52-week low of $78.00 and a 52-week high of $94.00.
PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Thursday, January 4th. The company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.08). The firm had revenue of $767.10 million during the quarter, compared to the consensus estimate of $764.67 million. PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 earnings per share. equities analysts forecast that PriceSmart will post 3.2 earnings per share for the current fiscal year.
In related news, EVP Chong Jesus Von sold 620 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $80.28, for a total transaction of $49,773.60. Following the sale, the executive vice president now owns 27,001 shares of the company’s stock, valued at approximately $2,167,640.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Heffner sold 3,125 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $80.00, for a total value of $250,000.00. Following the sale, the chief financial officer now directly owns 27,121 shares in the company, valued at approximately $2,169,680. The disclosure for this sale can be found here. Insiders sold a total of 44,997 shares of company stock worth $3,683,782 over the last 90 days. 28.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in PriceSmart by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 654,058 shares of the company’s stock worth $58,374,000 after buying an additional 12,039 shares during the period. Brown Advisory Inc. raised its stake in PriceSmart by 48.8% during the 3rd quarter. Brown Advisory Inc. now owns 302,536 shares of the company’s stock worth $27,001,000 after buying an additional 99,167 shares during the period. Thornburg Investment Management Inc. raised its stake in PriceSmart by 3.6% during the 3rd quarter. Thornburg Investment Management Inc. now owns 133,225 shares of the company’s stock worth $11,890,000 after buying an additional 4,652 shares during the period. Schwab Charles Investment Management Inc. raised its stake in PriceSmart by 6.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 149,174 shares of the company’s stock worth $13,314,000 after buying an additional 8,381 shares during the period. Finally, Wells Fargo & Company MN raised its stake in PriceSmart by 3.5% during the 3rd quarter. Wells Fargo & Company MN now owns 282,737 shares of the company’s stock worth $25,235,000 after buying an additional 9,433 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.
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PriceSmart Company Profile
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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