PriceSmart (NASDAQ:PSMT) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of PriceSmart (NASDAQ:PSMT) from a hold rating to a sell rating in a report released on Tuesday, BidAskClub reports.

Separately, Scotiabank upgraded PriceSmart from a sector perform rating to a sector outperform rating and set a $61.70 price objective for the company in a research note on Wednesday, July 17th.

Shares of NASDAQ:PSMT opened at $58.58 on Tuesday. The company’s fifty day moving average is $56.03. The stock has a market capitalization of $1.86 billion, a PE ratio of 21.56 and a beta of 1.01. PriceSmart has a 12-month low of $48.06 and a 12-month high of $88.65. The company has a quick ratio of 0.45, a current ratio of 1.28 and a debt-to-equity ratio of 0.09.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, July 10th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.13. The business had revenue of $788.56 million during the quarter, compared to analysts’ expectations of $792.96 million. PriceSmart had a return on equity of 11.19% and a net margin of 2.23%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 earnings per share. Sell-side analysts predict that PriceSmart will post 2.56 EPS for the current fiscal year.

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 10,000 shares of PriceSmart stock in a transaction on Monday, May 13th. The stock was sold at an average price of $55.42, for a total value of $554,200.00. Following the completion of the sale, the director now owns 154,201 shares of the company’s stock, valued at approximately $8,545,819.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frank Ramon Diaz sold 1,000 shares of PriceSmart stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.68, for a total value of $61,680.00. Following the completion of the sale, the executive vice president now directly owns 10,155 shares of the company’s stock, valued at approximately $626,360.40. The disclosure for this sale can be found here. Insiders have sold 61,818 shares of company stock valued at $3,523,131 in the last quarter. 27.10% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its holdings in shares of PriceSmart by 20.8% in the 1st quarter. Wells Fargo & Company MN now owns 521,569 shares of the company’s stock worth $30,710,000 after purchasing an additional 89,854 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of PriceSmart by 0.3% in the 1st quarter. Bank of Montreal Can now owns 397,020 shares of the company’s stock worth $23,377,000 after purchasing an additional 1,013 shares in the last quarter. Marathon Asset Management LLP bought a new stake in shares of PriceSmart in the 2nd quarter worth $14,603,000. Geode Capital Management LLC increased its holdings in shares of PriceSmart by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 265,966 shares of the company’s stock worth $15,718,000 after purchasing an additional 24,861 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of PriceSmart in the 4th quarter worth $9,644,000. 73.59% of the stock is 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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