PriceSmart (NASDAQ:PSMT) Sets New 52-Week High – Still a Buy?

PriceSmart, Inc. (NASDAQ:PSMT)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $166.61 and last traded at $165.90, with a volume of 11452 shares traded. The stock had previously closed at $164.65.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

PriceSmart Stock Performance

The firm has a market cap of $5.12 billion, a PE ratio of 32.70 and a beta of 0.77. The stock has a 50-day moving average price of $155.26 and a 200 day moving average price of $142.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.57 by $0.05. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The firm’s revenue was up 9.7% on a year-over-year basis.

Insider Transactions at PriceSmart

In related news, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the transaction, the director directly owned 8,151 shares of the company’s stock, valued at approximately $1,264,790.67. This trade represents a 21.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gordon H. Hanson sold 635 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the sale, the director directly owned 8,149 shares of the company’s stock, valued at approximately $1,284,282.40. This trade represents a 7.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,232 shares of company stock worth $504,198 in the last ninety days. Insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Several large investors have recently made changes to their positions in PSMT. Bank of America Corp DE lifted its holdings in shares of PriceSmart by 10.4% during the 1st quarter. Bank of America Corp DE now owns 143,146 shares of the company’s stock valued at $21,543,000 after acquiring an additional 13,540 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of PriceSmart during the first quarter worth about $6,075,000. Amundi acquired a new position in shares of PriceSmart during the first quarter worth about $458,000. EverSource Wealth Advisors LLC boosted its position in shares of PriceSmart by 22.6% in the first quarter. EverSource Wealth Advisors LLC now owns 651 shares of the company’s stock worth $98,000 after buying an additional 120 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of PriceSmart by 22.7% in the first quarter. California State Teachers Retirement System now owns 30,720 shares of the company’s stock valued at $4,623,000 after buying an additional 5,680 shares in the last quarter. Institutional investors and hedge funds 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.