PriceSmart, Inc. (NASDAQ:PSMT) Downgraded by TheStreet
Other equities analysts have also recently issued reports about the company. Roth Capital set a $102.00 price objective on PriceSmart and gave the stock a buy rating in a report on Thursday, May 18th. BidaskClub upgraded PriceSmart from a sell rating to a hold rating in a report on Thursday, July 6th. Finally, Zacks Investment Research cut PriceSmart from a hold rating to a strong sell rating in a report on Wednesday, July 12th.
Shares of PriceSmart (PSMT) opened at 82.55 on Thursday. PriceSmart has a 1-year low of $75.80 and a 1-year high of $94.40. The company has a 50-day moving average price of $87.89 and a 200 day moving average price of $87.71. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 26.99 and a beta of 1.26.
PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, July 5th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.05. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The business had revenue of $730.30 million for the quarter, compared to analysts’ expectations of $734.80 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. PriceSmart’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that PriceSmart will post $3.06 EPS for the current year.
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In other news, Director Mitchell G. Lynn sold 2,436 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $86.23, for a total value of $210,056.28. Following the completion of the transaction, the director now directly owns 405 shares in the company, valued at approximately $34,923.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 28.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in PriceSmart during the first quarter worth about $135,000. Victory Capital Management Inc. boosted its position in PriceSmart by 23.8% in the first quarter. Victory Capital Management Inc. now owns 1,670 shares of the company’s stock worth $154,000 after buying an additional 321 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in PriceSmart during the first quarter worth about $160,000. Creative Planning boosted its position in PriceSmart by 166.1% in the first quarter. Creative Planning now owns 1,823 shares of the company’s stock worth $168,000 after buying an additional 1,138 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in PriceSmart during the first quarter worth about $246,000. Hedge funds and other institutional investors own 72.23% of the company’s stock.
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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