PriceSmart (NASDAQ:PSMT) Rating Lowered to Hold at BidaskClub

PriceSmart (NASDAQ:PSMT) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday, BidAskClub reports.

PSMT has been the subject of a number of other research reports. TheStreet upgraded PriceSmart from a “c+” rating to a “b” rating in a research report on Tuesday, October 29th. ValuEngine cut PriceSmart from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $64.85.

PriceSmart stock traded up $0.26 during midday trading on Friday, reaching $72.88. 120,043 shares of the company were exchanged, compared to its average volume of 197,206. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 26.09 and a beta of 1.00. The firm’s 50-day simple moving average is $70.88 and its 200-day simple moving average is $60.73. PriceSmart has a 1 year low of $48.06 and a 1 year high of $79.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.39 and a current ratio of 1.21.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.18. The firm had revenue of $801.30 million during the quarter, compared to analysts’ expectations of $812.34 million. PriceSmart had a return on equity of 10.91% and a net margin of 2.27%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS.

In other PriceSmart news, COO William J. Naylon sold 7,000 shares of PriceSmart stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $73.28, for a total value of $512,960.00. Following the completion of the sale, the chief operating officer now owns 39,804 shares in the company, valued at approximately $2,916,837.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Philanthropies Foundatio Price sold 10,000 shares of PriceSmart stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the sale, the insider now owns 4,329,355 shares of the company’s stock, valued at approximately $253,873,377.20. The disclosure for this sale can be found here. Insiders sold a total of 76,087 shares of company stock valued at $5,249,513 in the last 90 days. 27.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of PriceSmart by 13.9% in the 2nd quarter. First Trust Advisors LP now owns 14,894 shares of the company’s stock valued at $761,000 after purchasing an additional 1,814 shares in the last quarter. Crawford Investment Counsel Inc. lifted its stake in shares of PriceSmart by 11.7% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 61,826 shares of the company’s stock valued at $3,161,000 after purchasing an additional 6,500 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in shares of PriceSmart by 920.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 81,292 shares of the company’s stock valued at $4,156,000 after purchasing an additional 73,329 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of PriceSmart by 1.5% in the 2nd quarter. Bank of Montreal Can now owns 402,957 shares of the company’s stock valued at $20,599,000 after purchasing an additional 5,937 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PriceSmart by 5.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 246,519 shares of the company’s stock valued at $12,603,000 after purchasing an additional 12,693 shares in the last quarter. 82.98% 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 Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

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