PriceSmart (PSMT) Receives Sector Perform Rating from Scotia Howard Weill
Other equities research analysts have also issued reports about the company. Howard Weil lowered PriceSmart from a sector outperform rating to a sector perform rating in a research report on Friday. Scotiabank lowered PriceSmart to a hold rating and set a $90.00 price target on the stock. in a research report on Friday. TheStreet upgraded PriceSmart from a c+ rating to a b rating in a research report on Monday, October 23rd. BidaskClub upgraded PriceSmart from a sell rating to a hold rating in a research report on Thursday. Finally, Ifs Securities upgraded PriceSmart from a market perform rating to an outperform rating in a research report on Friday, December 29th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. PriceSmart presently has a consensus rating of Hold and an average price target of $92.75.
Shares of PriceSmart (NASDAQ:PSMT) opened at $81.25 on Friday. The company has a market capitalization of $2,670.95, a P/E ratio of 28.02 and a beta of 1.31. PriceSmart has a 12-month low of $78.00 and a 12-month high of $94.00. The company has a current ratio of 1.40, a quick ratio of 0.55 and a debt-to-equity ratio of 0.12.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results 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 business had revenue of $767.10 million for the quarter, compared to the consensus estimate of $764.67 million. PriceSmart had a return on equity of 12.81% and a net margin of 2.92%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. analysts anticipate that PriceSmart will post 3.2 earnings per share for the current year.
In other PriceSmart news, CEO Jose Luis Laparte sold 12,772 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $82.58, for a total value of $1,054,711.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John D. Hildebrandt sold 1,614 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $83.47, for a total value of $134,720.58. Following the completion of the transaction, the executive vice president now directly owns 17,237 shares in the company, valued at approximately $1,438,772.39. 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 quarter. Corporate insiders own 28.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of PriceSmart by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,026,266 shares of the company’s stock valued at $177,501,000 after purchasing an additional 10,009 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of PriceSmart by 9.6% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,511,335 shares of the company’s stock valued at $134,887,000 after purchasing an additional 132,555 shares during the period. BlackRock Inc. lifted its stake in shares of PriceSmart by 2.5% in the 2nd quarter. BlackRock Inc. now owns 1,319,667 shares of the company’s stock valued at $115,604,000 after purchasing an additional 32,748 shares during the period. FMR LLC lifted its stake in shares of PriceSmart by 1.0% in the 2nd quarter. FMR LLC now owns 1,124,293 shares of the company’s stock valued at $98,488,000 after purchasing an additional 10,907 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PriceSmart by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 654,058 shares of the company’s stock valued at $58,374,000 after purchasing an additional 12,039 shares during the period. 72.83% of the stock is currently owned by institutional investors.
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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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