BidaskClub upgraded shares of PriceSmart (NASDAQ:PSMT) from a hold rating to a buy rating in a research note published on Wednesday.
Other research analysts have also recently issued research reports about the stock. ValuEngine raised shares of PriceSmart from a sell rating to a hold rating in a report on Thursday, July 26th. Scotiabank set a $86.00 price objective on shares of PriceSmart and gave the company a hold rating in a report on Wednesday, July 11th. TheStreet cut shares of PriceSmart from a b- rating to a c+ rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of PriceSmart from a hold rating to a sell rating in a report on Thursday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. PriceSmart has a consensus rating of Hold and a consensus price target of $91.50.
PSMT opened at $85.55 on Wednesday. PriceSmart has a fifty-two week low of $77.30 and a fifty-two week high of $94.45. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.36 and a quick ratio of 0.49. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 28.71 and a beta of 1.15.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Thursday, July 5th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). PriceSmart had a net margin of 2.41% and a return on equity of 12.01%. The firm had revenue of $782.20 million during the quarter, compared to analysts’ expectations of $787.19 million. During the same period in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. equities analysts anticipate that PriceSmart will post 3.01 EPS for the current year.
In other news, Director Robert E. Price sold 10,000 shares of PriceSmart stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $89.04, for a total value of $890,400.00. Following the sale, the director now owns 80 shares in the company, valued at $7,123.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 60,000 shares of company stock valued at $5,063,600 in the last ninety days. 28.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of PriceSmart by 15.9% in the second quarter. Victory Capital Management Inc. now owns 5,134 shares of the company’s stock valued at $465,000 after purchasing an additional 704 shares during the period. Barclays PLC grew its position in shares of PriceSmart by 29.3% in the first quarter. Barclays PLC now owns 4,597 shares of the company’s stock valued at $384,000 after purchasing an additional 1,041 shares during the period. Raymond James & Associates grew its position in shares of PriceSmart by 1.6% in the second quarter. Raymond James & Associates now owns 70,008 shares of the company’s stock valued at $6,336,000 after purchasing an additional 1,091 shares during the period. M&T Bank Corp grew its position in shares of PriceSmart by 30.6% in the first quarter. M&T Bank Corp now owns 5,248 shares of the company’s stock valued at $439,000 after purchasing an additional 1,231 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of PriceSmart by 11.8% in the first quarter. D.A. Davidson & CO. now owns 12,951 shares of the company’s stock valued at $1,082,000 after purchasing an additional 1,370 shares during the period. Institutional investors and hedge funds own 76.61% of the company’s stock.
PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
Further Reading: Market Capitalization
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