PriceSmart (PSMT) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of PriceSmart (NASDAQ:PSMT) from a sell rating to a hold rating in a research note released on Tuesday.

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. “

A number of other equities analysts have also weighed in on PSMT. 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 for the company. Roth Capital reiterated a buy rating and issued a $100.00 price target on shares of PriceSmart in a research report on Monday, October 2nd. TheStreet upgraded PriceSmart from a c+ rating to a b rating in a research report on Monday, October 23rd. Finally, BidaskClub lowered PriceSmart from a hold rating to a sell rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $92.50.

PriceSmart (PSMT) traded down $1.65 during trading hours on Tuesday, hitting $86.40. The company had a trading volume of 79,734 shares, compared to its average volume of 144,950. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.55. PriceSmart has a fifty-two week low of $78.00 and a fifty-two week high of $94.00. The firm has a market cap of $2,617.75, a price-to-earnings ratio of 28.99 and a beta of 1.31.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.09). PriceSmart had a net margin of 3.03% and a return on equity of 13.32%. The company had revenue of $733.50 million during the quarter, compared to analyst estimates of $733.64 million. During the same quarter last year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. analysts anticipate that PriceSmart will post 3.2 EPS for the current year.

In other PriceSmart news, EVP Chong Jesus Von sold 620 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $80.28, for a total transaction of $49,773.60. Following the completion of the sale, the executive vice president now directly owns 27,001 shares in the company, valued at approximately $2,167,640.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John D. Hildebrandt sold 1,614 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $83.47, for a total value of $134,720.58. Following the sale, the executive vice president now owns 17,237 shares of the company’s stock, valued at $1,438,772.39. The disclosure for this sale can be found here. Insiders have sold a total of 44,997 shares of company stock valued at $3,683,782 over the last 90 days. Corporate insiders own 28.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 12,039 shares during the period. Brown Advisory Inc. boosted its position 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 acquiring an additional 99,167 shares during the period. Thornburg Investment Management Inc. boosted its position 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 acquiring an additional 4,652 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of PriceSmart by 6.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 149,174 shares of the company’s stock valued at $13,314,000 after buying an additional 8,381 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of PriceSmart by 3.5% during the 3rd quarter. Wells Fargo & Company MN now owns 282,737 shares of the company’s stock valued at $25,235,000 after buying an additional 9,433 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

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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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