PriceSmart Inc. (NASDAQ:PSMT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.

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. “

Separately, Roth Capital set a $95.00 target price on PriceSmart and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. PriceSmart currently has an average rating of “Buy” and a consensus target price of $69.33.

Shares of PriceSmart (NASDAQ:PSMT) opened at 85.61 on Thursday. The firm has a market cap of $2.56 billion, a P/E ratio of 29.24 and a beta of 1.50. PriceSmart has a 52-week low of $68.51 and a 52-week high of $98.49. The stock’s 50 day moving average is $82.99 and its 200-day moving average is $84.60.

Several large investors have recently made changes to their positions in PSMT. Bank of Montreal Can purchased a new stake in shares of PriceSmart during the second quarter valued at approximately $60,005,000. Emerald Acquisition Ltd. purchased a new stake in shares of PriceSmart during the second quarter valued at approximately $16,624,000. Genesis Asset Managers LLP purchased a new stake in shares of PriceSmart during the third quarter valued at approximately $13,781,000. Renaissance Technologies LLC boosted its stake in shares of PriceSmart by 105.5% in the first quarter. Renaissance Technologies LLC now owns 279,900 shares of the company’s stock valued at $23,674,000 after buying an additional 143,700 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of PriceSmart during the second quarter valued at approximately $6,220,000. 72.69% of the stock is owned by institutional investors and hedge funds.

PriceSmart Company Profile

PriceSmart, Inc (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart.

5 Day Chart for NASDAQ:PSMT

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