Wall Street Zen Upgrades PriceSmart (NASDAQ:PSMT) to “Buy”

PriceSmart (NASDAQ:PSMT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of PriceSmart in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

PriceSmart Stock Up 0.5%

PSMT stock opened at $123.33 on Friday. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 25.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.57 and a current ratio of 1.34. The business’s 50-day moving average is $122.15 and its two-hundred day moving average is $115.68. PriceSmart has a fifty-two week low of $81.25 and a fifty-two week high of $131.46.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). PriceSmart had a net margin of 2.81% and a return on equity of 12.34%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts forecast that PriceSmart will post 5.28 earnings per share for the current year.

Insiders Place Their Bets

In other PriceSmart news, EVP Paul Kovaleski sold 1,305 shares of PriceSmart stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $114.55, for a total transaction of $149,487.75. Following the transaction, the executive vice president owned 43,109 shares of the company’s stock, valued at $4,938,135.95. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John D. Hildebrandt sold 10,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $115.10, for a total transaction of $1,151,000.00. Following the completion of the sale, the chief operating officer directly owned 115,615 shares of the company’s stock, valued at approximately $13,307,286.50. This trade represents a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,156 shares of company stock worth $1,400,429. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its position in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 252 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in PriceSmart during the 2nd quarter valued at approximately $28,000. First Horizon Corp bought a new stake in PriceSmart during the 3rd quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC lifted its holdings in PriceSmart by 52.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares in the last quarter. Finally, Mather Group LLC. bought a new position in PriceSmart in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Company Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.