Zacks Investment Research upgraded shares of PriceSmart, Inc. (NASDAQ:PSMT) from a sell rating to a hold rating in a research note released on Tuesday.

According to Zacks, “PriceSmart, Inc. is primarily engaged in the operation of membership shopping warehouses in international markets. The company’s business consists of international membership shopping stores similar to, but smaller in size than, warehouse clubs in the United States. The warehouses sell basic consumer goods with an emphasis on quality, low prices and efficient operations. By offering low prices on brand name and private label merchandise, the warehouses seek to generate sufficient sales volumes to operate profitably at relatively low gross margins. “

PSMT has been the topic of several other reports. BidaskClub downgraded shares of PriceSmart from a hold rating to a sell rating in a research report on Sunday, July 16th. Roth Capital set a $102.00 price objective on shares of PriceSmart and gave the stock a buy rating in a research report on Thursday, May 18th. Finally, TheStreet downgraded shares of PriceSmart from a b rating to a c+ rating in a research report on Thursday, July 13th.

Shares of PriceSmart (PSMT) opened at 87.15 on Tuesday. PriceSmart has a 12-month low of $78.00 and a 12-month high of $94.40. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 28.49 and a beta of 1.25. The firm has a 50-day moving average of $82.93 and a 200 day moving average of $86.42.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Wednesday, July 5th. The company reported $0.62 earnings per share (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 period in the previous year, the business posted $0.55 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts forecast that PriceSmart will post $3.07 earnings per share for the current fiscal year.

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In other news, Director Sherry S. Bahrambeygui sold 3,561 shares of PriceSmart stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $84.88, for a total value of $302,257.68. Following the sale, the director now owns 125,374 shares of the company’s stock, valued at $10,641,745.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 28.00% of the company’s stock.

Large investors have recently modified their holdings of the company. Citigroup Inc. boosted its holdings in shares of PriceSmart by 18.5% in the second quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after acquiring an additional 220 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of PriceSmart by 16.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after acquiring an additional 206 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of PriceSmart in the first quarter valued at about $135,000. Victory Capital Management Inc. boosted its holdings in shares of PriceSmart by 23.8% in the first quarter. Victory Capital Management Inc. now owns 1,670 shares of the company’s stock valued at $154,000 after acquiring an additional 321 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of PriceSmart in the first quarter valued at about $160,000. 71.98% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Company Profile

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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