ValuEngine Upgrades PriceSmart (NASDAQ:PSMT) to “Hold”

PriceSmart (NASDAQ:PSMT) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, ValuEngine reports.

Several other analysts have also issued reports on PSMT. BidaskClub lowered shares of PriceSmart from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Scotiabank upgraded shares of PriceSmart from a “sector perform” rating to a “sector outperform” rating and set a $61.70 price target for the company in a research report on Wednesday, July 17th.

NASDAQ:PSMT traded up $0.53 during midday trading on Tuesday, reaching $58.44. The stock had a trading volume of 84,961 shares, compared to its average volume of 164,849. The stock has a market cap of $1.79 billion, a PE ratio of 24.05 and a beta of 1.02. PriceSmart has a 12-month low of $48.06 and a 12-month high of $88.65. The business’s fifty day simple moving average is $56.54. The company has a current ratio of 1.28, a quick ratio of 0.45 and a debt-to-equity ratio of 0.09.

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

In related news, Director Sherry S. Bahrambeygui sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $55.42, for a total value of $554,200.00. Following the completion of the transaction, the director now directly owns 154,201 shares of the company’s stock, valued at $8,545,819.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sherry S. Bahrambeygui sold 20,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $57.16, for a total transaction of $1,143,200.00. Following the completion of the transaction, the director now directly owns 154,201 shares of the company’s stock, valued at $8,814,129.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,818 shares of company stock valued at $3,523,131. Insiders own 27.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in PriceSmart by 6.3% in the second quarter. Aperio Group LLC now owns 5,583 shares of the company’s stock worth $285,000 after buying an additional 330 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in PriceSmart by 600.0% in the first quarter. Nisa Investment Advisors LLC now owns 700 shares of the company’s stock worth $41,000 after buying an additional 600 shares in the last quarter. Swiss National Bank raised its stake in PriceSmart by 2.2% in the second quarter. Swiss National Bank now owns 42,600 shares of the company’s stock worth $2,178,000 after buying an additional 900 shares in the last quarter. Quadrant Capital Group LLC bought a new position in PriceSmart in the first quarter worth about $58,000. Finally, Bank of Montreal Can raised its stake in PriceSmart by 0.3% in the first quarter. Bank of Montreal Can now owns 397,020 shares of the company’s stock worth $23,377,000 after buying an additional 1,013 shares in the last quarter. 73.65% of the stock is owned by institutional investors.

PriceSmart Company Profile

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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