PriceSmart (PSMT) Upgraded to “Buy” at BidaskClub

PriceSmart (NASDAQ:PSMT) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday, June 22nd.

Several other equities analysts have also recently commented on PSMT. Zacks Investment Research raised shares of PriceSmart from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. ValuEngine raised shares of PriceSmart from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of PriceSmart in a research report on Thursday, March 8th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.50.

Shares of PriceSmart traded down $1.60, reaching $90.50, during midday trading on Friday, according to MarketBeat.com. 206,776 shares of the stock were exchanged, compared to its average volume of 142,030. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.42 and a quick ratio of 0.54. The company has a market capitalization of $2.80 billion, a P/E ratio of 31.87 and a beta of 1.19. PriceSmart has a twelve month low of $77.50 and a twelve month high of $94.45.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Thursday, April 5th. The company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.30. PriceSmart had a net margin of 2.45% and a return on equity of 12.29%. The firm had revenue of $839.56 million during the quarter, compared to analysts’ expectations of $832.43 million. During the same quarter last year, the company posted $0.90 EPS. research analysts expect that PriceSmart will post 3.2 EPS for the current year.

In other news, EVP John D. Hildebrandt sold 400 shares of the business’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $91.44, for a total transaction of $36,576.00. Following the transaction, the executive vice president now directly owns 15,809 shares in the company, valued at $1,445,574.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John D. Hildebrandt sold 517 shares of the business’s stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $87.68, for a total transaction of $45,330.56. Following the transaction, the executive vice president now owns 16,209 shares in the company, valued at $1,421,205.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,433 shares of company stock worth $5,111,458. 28.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its holdings in PriceSmart by 18.7% during the fourth quarter. M&T Bank Corp now owns 4,017 shares of the company’s stock worth $345,000 after buying an additional 633 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of PriceSmart by 30.6% in the fourth quarter. Aperio Group LLC now owns 4,383 shares of the company’s stock valued at $377,000 after purchasing an additional 1,027 shares in the last quarter. Barclays PLC lifted its holdings in shares of PriceSmart by 29.3% in the first quarter. Barclays PLC now owns 4,597 shares of the company’s stock valued at $384,000 after purchasing an additional 1,041 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of PriceSmart by 11.8% in the first quarter. D.A. Davidson & CO. now owns 12,951 shares of the company’s stock valued at $1,082,000 after purchasing an additional 1,370 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of PriceSmart by 6.6% in the first quarter. US Bancorp DE now owns 23,454 shares of the company’s stock valued at $1,960,000 after purchasing an additional 1,451 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Company Profile

PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of October 26, 2017, it operated 40 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 in Trinidad; 3 each in Guatemala, Honduras, and the Dominican Republic; 2 in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

Analyst Recommendations for PriceSmart (NASDAQ:PSMT)

Receive News & Ratings for PriceSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PriceSmart and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply