PriceSmart (NASDAQ:PSMT) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of PriceSmart (NASDAQ:PSMT) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. TheStreet upgraded shares of PriceSmart from a c+ rating to a b rating in a research note on Tuesday, October 29th. ValuEngine cut shares of PriceSmart from a buy rating to a hold rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $64.85.

Shares of PSMT traded up $0.26 during trading hours on Friday, hitting $72.88. The company’s stock had a trading volume of 120,043 shares, compared to its average volume of 197,206. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 26.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.21 and a quick ratio of 0.39. The business has a 50 day simple moving average of $70.88 and a two-hundred day simple moving average of $60.73. PriceSmart has a 52-week low of $48.06 and a 52-week high of $79.90.

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

In related news, major shareholder Philanthropies Foundatio Price sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $58.64, for a total transaction of $586,400.00. Following the completion of the transaction, the insider now owns 4,329,355 shares of the company’s stock, valued at $253,873,377.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO William J. Naylon sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $73.28, for a total transaction of $512,960.00. Following the transaction, the chief operating officer now directly owns 39,804 shares of the company’s stock, valued at approximately $2,916,837.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,087 shares of company stock valued at $5,249,513. 27.10% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PSMT. Genesis Investment Management LLP purchased a new position in PriceSmart during the third quarter valued at approximately $79,786,000. EdgePoint Investment Group Inc. grew its stake in PriceSmart by 12.3% during the second quarter. EdgePoint Investment Group Inc. now owns 3,898,986 shares of the company’s stock valued at $199,316,000 after acquiring an additional 427,907 shares in the last quarter. Marathon Asset Management LLP bought a new stake in PriceSmart during the second quarter valued at approximately $14,603,000. Renaissance Technologies LLC lifted its position in PriceSmart by 38.8% during the second quarter. Renaissance Technologies LLC now owns 560,400 shares of the company’s stock valued at $28,648,000 after purchasing an additional 156,700 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in PriceSmart during the second quarter valued at approximately $7,316,000. 82.98% of the stock is owned by institutional investors.

PriceSmart Company Profile

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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