PriceSmart (NASDAQ:PSMT) Sets New 12-Month High – Should You Buy?

Shares of PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high during trading on Thursday . The company traded as high as $129.76 and last traded at $129.87, with a volume of 58043 shares trading hands. The stock had previously closed at $125.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PSMT shares. Weiss Ratings lowered shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

PriceSmart Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.34 and a quick ratio of 0.57. The stock has a 50-day moving average price of $121.05 and a 200-day moving average price of $113.39. The firm has a market capitalization of $4.05 billion, a PE ratio of 27.18 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Thursday, October 30th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. PriceSmart had a net margin of 2.81% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. On average, research analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

Insider Activity at PriceSmart

In other news, COO John D. Hildebrandt sold 10,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $115.10, for a total transaction of $1,151,000.00. Following the transaction, the chief operating officer owned 115,615 shares of the company’s stock, valued at approximately $13,307,286.50. This trade represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gordon H. Hanson sold 851 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $117.44, for a total value of $99,941.44. Following the completion of the sale, the director directly owned 7,653 shares of the company’s stock, valued at approximately $898,768.32. This represents a 10.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 12,706 shares of company stock worth $1,467,980. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

A number of hedge funds have recently added to or reduced their stakes in PSMT. First Horizon Corp bought a new stake in PriceSmart during the third quarter valued at $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of PriceSmart in the 2nd quarter worth about $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 252 shares during the period. Mather Group LLC. acquired a new stake in PriceSmart during the third quarter worth about $39,000. Finally, Steward Partners Investment Advisory LLC raised its stake in PriceSmart by 52.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.