PriceSmart (NASDAQ:PSMT – Get Free Report) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.
Separately, Scotiabank lifted their price objective on shares of PriceSmart from $77.00 to $82.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 11th.
PriceSmart Stock Down 0.7 %
NASDAQ:PSMT traded down $0.58 during midday trading on Friday, hitting $77.85. 68,091 shares of the company were exchanged, compared to its average volume of 124,192. The company has a fifty day simple moving average of $75.78 and a 200 day simple moving average of $73.25. PriceSmart has a fifty-two week low of $56.29 and a fifty-two week high of $82.00. The company has a current ratio of 1.44, a quick ratio of 0.69 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.42 billion, a PE ratio of 20.70 and a beta of 0.90.
PriceSmart (NASDAQ:PSMT – Get Free Report) last posted its quarterly earnings data on Tuesday, July 11th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. PriceSmart had a net margin of 2.71% and a return on equity of 12.20%. PriceSmart’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share.
Insider Buying and Selling at PriceSmart
In other news, Director Sherry S. Bahrambeygui sold 800 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $78.74, for a total transaction of $62,992.00. Following the transaction, the director now directly owns 83,395 shares in the company, valued at $6,566,522.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new stake in PriceSmart during the first quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new stake in PriceSmart during the first quarter worth about $37,000. Exchange Traded Concepts LLC purchased a new stake in PriceSmart during the second quarter worth about $49,000. Tower Research Capital LLC TRC boosted its holdings in PriceSmart by 80.3% during the first quarter. Tower Research Capital LLC TRC now owns 759 shares of the company’s stock worth $54,000 after buying an additional 338 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in PriceSmart during the fourth quarter worth about $73,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.
About PriceSmart
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. Its warehouse clubs sell brand name and private label consumer products, essential goods, fresh produce, prepared foods, and fresh-baked goods, as well as provides services, such as optical, tire center, and other ancillary services.