PriceSmart, Inc. (PSMT) Downgraded by TheStreet
Several other research firms have also issued reports on PSMT. Roth Capital set a $102.00 target price on PriceSmart and gave the stock a buy rating in a report on Saturday, April 1st. BidaskClub raised PriceSmart from a sell rating to a hold rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research lowered PriceSmart from a hold rating to a strong sell rating in a research note on Wednesday, July 12th.
PriceSmart (NASDAQ PSMT) opened at 82.55 on Thursday. PriceSmart has a one year low of $75.80 and a one year high of $94.40. The company has a market capitalization of $2.48 billion, a PE ratio of 26.99 and a beta of 1.26. The firm’s 50 day moving average price is $87.89 and its 200-day moving average price is $87.71.
PriceSmart (NASDAQ:PSMT) last released its earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.05. The company had revenue of $730.30 million for the quarter, compared to analyst estimates of $734.80 million. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. Equities analysts forecast that PriceSmart will post $3.06 earnings per share for the current fiscal year.
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In related news, Director Mitchell G. Lynn sold 2,436 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $86.23, for a total value of $210,056.28. Following the sale, the director now directly owns 405 shares of the company’s stock, valued at $34,923.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in PriceSmart during the first quarter valued at $135,000. Victory Capital Management Inc. raised its stake in PriceSmart by 23.8% in the first quarter. Victory Capital Management Inc. now owns 1,670 shares of the company’s stock valued at $154,000 after buying an additional 321 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in PriceSmart during the first quarter valued at $160,000. Creative Planning raised its stake in PriceSmart by 166.1% in the first quarter. Creative Planning now owns 1,823 shares of the company’s stock valued at $168,000 after buying an additional 1,138 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in PriceSmart during the first quarter valued at $246,000. 72.23% of the stock is currently owned by institutional investors and hedge funds.
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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