PriceSmart’s (PSMT) “Buy” Rating Reaffirmed at Roth Capital
Other equities research analysts have also recently issued research reports about the stock. TheStreet cut shares of PriceSmart from a b rating to a c+ rating in a research report on Thursday, July 13th. Zacks Investment Research raised shares of PriceSmart from a sell rating to a hold rating in a report on Tuesday, September 12th. BidaskClub raised shares of PriceSmart from a sell rating to a hold rating in a report on Monday, July 24th. Finally, Ifs Securities assumed coverage on shares of PriceSmart in a report on Monday, September 25th. They issued a market perform rating and a $85.00 target price on the stock. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $96.00.
PriceSmart (NASDAQ:PSMT) traded up 0.95% on Monday, reaching $90.25. The company’s stock had a trading volume of 42,617 shares. The company has a 50-day moving average price of $84.30 and a 200 day moving average price of $86.35. The company has a market cap of $2.71 billion, a P/E ratio of 29.50 and a beta of 1.26. PriceSmart has a 12 month low of $78.00 and a 12 month high of $94.40.
PriceSmart (NASDAQ:PSMT) last released its earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $730.30 million for the quarter, compared to analyst estimates of $734.80 million. During the same period last year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that PriceSmart will post $3.07 EPS 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 on Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total value of $302,257.68. Following the transaction, the director now owns 125,374 shares in the company, valued at approximately $10,641,745.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 28.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in PriceSmart by 76,229.7% in the first quarter. BlackRock Inc. now owns 1,286,919 shares of the company’s stock valued at $118,654,000 after buying an additional 1,285,233 shares in the last quarter. Genesis Asset Managers LLP raised its stake in PriceSmart by 267.8% during the second quarter. Genesis Asset Managers LLP now owns 598,786 shares of the company’s stock worth $52,454,000 after acquiring an additional 435,964 shares in the last quarter. Vanguard Group Inc. raised its stake in PriceSmart by 11.0% during the first quarter. Vanguard Group Inc. now owns 2,016,257 shares of the company’s stock worth $185,899,000 after acquiring an additional 200,045 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in PriceSmart by 8.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,378,780 shares of the company’s stock worth $120,781,000 after acquiring an additional 109,090 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in PriceSmart by 11.9% during the second quarter. Bank of Montreal Can now owns 1,018,827 shares of the company’s stock worth $89,249,000 after acquiring an additional 108,009 shares in the last quarter. Institutional investors and hedge funds own 71.98% of the company’s stock.
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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