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

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

Other research analysts have also issued research reports about the company. ValuEngine lowered PriceSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. TheStreet upgraded PriceSmart from a “c+” rating to a “b” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. PriceSmart presently has an average rating of “Hold” and a consensus target price of $64.85.

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

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.18. PriceSmart had a return on equity of 10.91% and a net margin of 2.27%. The company had revenue of $801.30 million during the quarter, compared to analyst estimates of $812.34 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis.

In other news, EVP Chong Jesus Von sold 1,580 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $76.35, for a total value of $120,633.00. Following the completion of the sale, the executive vice president now owns 24,580 shares in the company, valued at $1,876,683. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO William J. Naylon sold 2,852 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $75.45, for a total value of $215,183.40. Following the completion of the sale, the chief operating officer now owns 36,952 shares of the company’s stock, valued at approximately $2,788,028.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,087 shares of company stock valued at $5,249,513. Insiders own 27.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its holdings in shares of PriceSmart by 0.7% in the third quarter. EdgePoint Investment Group Inc. now owns 3,925,810 shares of the company’s stock valued at $279,125,000 after buying an additional 26,824 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of PriceSmart by 3.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,719,420 shares of the company’s stock valued at $190,138,000 after buying an additional 116,254 shares during the period. BlackRock Inc. lifted its holdings in shares of PriceSmart by 1.5% in the second quarter. BlackRock Inc. now owns 1,506,650 shares of the company’s stock valued at $77,019,000 after buying an additional 22,392 shares during the period. Genesis Investment Management LLP acquired a new stake in shares of PriceSmart in the third quarter valued at $79,786,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of PriceSmart by 38.8% in the second quarter. Renaissance Technologies LLC now owns 560,400 shares of the company’s stock valued at $28,648,000 after buying an additional 156,700 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

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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