PriceSmart, Inc. (NASDAQ:PSMT) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Separately, Roth Capital set a $102.00 price objective on shares of PriceSmart and gave the stock a “buy” rating in a report on Thursday, May 18th.
PriceSmart (NASDAQ:PSMT) opened at 82.525 on Thursday. PriceSmart has a 1-year low of $75.80 and a 1-year high of $94.40. The firm has a market cap of $2.48 billion, a P/E ratio of 26.978 and a beta of 1.26. The firm’s 50-day moving average price is $87.89 and its 200-day moving average price is $87.71.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Wednesday, July 5th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by $0.05. PriceSmart had a net margin of 3.13% and a return on equity of 14.05%. The firm had revenue of $730.30 million for the quarter, compared to the consensus estimate of $734.80 million. During the same period last year, the company posted $0.55 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that PriceSmart will post $3.17 earnings per share for the current fiscal year.
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In other PriceSmart news, Director Mitchell G. Lynn sold 3,000 shares of PriceSmart stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $86.53, for a total value of $259,590.00. Following the sale, the director now directly owns 5,841 shares in the company, valued at approximately $505,421.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura Santana sold 1,100 shares of PriceSmart stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $86.77, for a total transaction of $95,447.00. Following the completion of the sale, the executive vice president now owns 17,604 shares in the company, valued at $1,527,499.08. The disclosure for this sale can be found here. Insiders have sold a total of 6,536 shares of company stock worth $565,093 over the last 90 days. Insiders own 28.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Perigon Wealth Management LLC increased its stake in shares of PriceSmart by 4.8% in the first quarter. Perigon Wealth Management LLC now owns 11,241 shares of the company’s stock worth $1,036,000 after buying an additional 513 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of PriceSmart by 9.0% in the first quarter. Goldman Sachs Group Inc. now owns 47,241 shares of the company’s stock worth $4,356,000 after buying an additional 3,900 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of PriceSmart by 45.3% in the first quarter. Point72 Asset Management L.P. now owns 114,327 shares of the company’s stock worth $10,541,000 after buying an additional 35,629 shares during the last quarter. State Street Corp boosted its position in shares of PriceSmart by 3.0% in the first quarter. State Street Corp now owns 437,838 shares of the company’s stock worth $40,368,000 after buying an additional 12,571 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of PriceSmart during the first quarter worth approximately $685,000. Institutional investors own 71.61% 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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