PriceSmart, Inc. (PSMT) Downgraded by TheStreet to C+

TheStreet downgraded shares of PriceSmart, Inc. (NASDAQ:PSMT) from a b rating to a c+ rating in a research note issued to investors on Thursday.

Other research analysts have also recently issued reports about the stock. BidaskClub raised shares of PriceSmart from a sell rating to a hold rating in a research report on Thursday, July 6th. Roth Capital set a $102.00 price target on shares of PriceSmart and gave the company a buy rating in a research report on Saturday, April 1st. Finally, Zacks Investment Research cut shares of PriceSmart from a hold rating to a strong sell rating in a research report on Wednesday, July 12th.

PriceSmart (NASDAQ PSMT) traded up 0.49% during midday trading on Thursday, hitting $82.55. 128,492 shares of the company were exchanged. The stock has a 50 day moving average of $87.89 and a 200 day moving average of $87.71. The firm has a market capitalization of $2.48 billion, a PE ratio of 26.99 and a beta of 1.26. PriceSmart has a 1-year low of $75.80 and a 1-year high of $94.40.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.05. PriceSmart had a net margin of 3.13% and a return on equity of 14.05%. The business had revenue of $730.30 million for the quarter, compared to analysts’ expectations of $734.80 million. During the same period last year, the business earned $0.55 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts predict that PriceSmart will post $3.06 earnings per share for the current fiscal year.

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In other PriceSmart news, Director Mitchell G. Lynn sold 2,436 shares of PriceSmart stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $86.23, for a total value of $210,056.28. Following the completion of the transaction, the director now directly owns 405 shares of the company’s stock, valued at $34,923.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 28.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PSMT. BlackRock Inc. boosted its position in shares of 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 during the period. Genesis Asset Managers LLP boosted its position in shares of PriceSmart by 267.8% in the second quarter. Genesis Asset Managers LLP now owns 598,786 shares of the company’s stock valued at $52,454,000 after buying an additional 435,964 shares during the period. Vanguard Group Inc. boosted its position in shares of PriceSmart by 11.0% in the first quarter. Vanguard Group Inc. now owns 2,016,257 shares of the company’s stock valued at $185,899,000 after buying an additional 200,045 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of PriceSmart by 16.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,269,690 shares of the company’s stock valued at $117,066,000 after buying an additional 174,683 shares during the period. Finally, Norges Bank purchased a new position in shares of PriceSmart during the fourth quarter valued at about $13,240,000. 72.23% of the stock is owned by institutional investors and hedge funds.

About PriceSmart

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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