PriceSmart (PSMT) Lowered to Sector Perform at Howard Weil

Howard Weil downgraded shares of PriceSmart (NASDAQ:PSMT) from a sector outperform rating to a sector perform rating in a research report released on Friday.

A number of other analysts have also commented on the stock. Scotiabank lowered shares of PriceSmart to a hold rating and set a $90.00 target price for the company. in a report on Friday. BidaskClub raised shares of PriceSmart from a sell rating to a hold rating in a report on Thursday. Zacks Investment Research raised shares of PriceSmart from a sell rating to a hold rating and set a $96.00 target price for the company in a report on Tuesday. Ifs Securities raised shares of PriceSmart from a market perform rating to an outperform rating in a report on Friday, December 29th. Finally, TheStreet raised shares of PriceSmart from a c+ rating to a b rating in a report on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $92.75.

PriceSmart (NASDAQ PSMT) traded down $6.60 on Friday, reaching $81.25. 486,313 shares of the company’s stock were exchanged, compared to its average volume of 89,443. The company has a quick ratio of 0.55, a current ratio of 1.40 and a debt-to-equity ratio of 0.12. PriceSmart has a 12-month low of $78.00 and a 12-month high of $94.00. The firm has a market cap of $2,670.95, a price-to-earnings ratio of 28.02 and a beta of 1.31.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Thursday, January 4th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.08). PriceSmart had a return on equity of 12.81% and a net margin of 2.92%. The business had revenue of $767.10 million for the quarter, compared to analyst estimates of $764.67 million. During the same period in the prior year, the firm posted $0.82 EPS. PriceSmart’s revenue was up 3.7% on a year-over-year basis. equities analysts forecast that PriceSmart will post 3.2 earnings per share for the current fiscal year.

In other news, EVP John D. Hildebrandt sold 1,614 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $83.47, for a total value of $134,720.58. Following the completion of the transaction, the executive vice president now owns 17,237 shares of the company’s stock, valued at approximately $1,438,772.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Chong Jesus Von sold 620 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $80.28, for a total transaction of $49,773.60. Following the completion of the transaction, the executive vice president now directly owns 27,001 shares of the company’s stock, valued at approximately $2,167,640.28. The disclosure for this sale can be found here. Insiders sold a total of 44,997 shares of company stock valued at $3,683,782 in the last three months. 28.00% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of PriceSmart by 18.5% in the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after buying an additional 220 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of PriceSmart by 16.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after buying an additional 206 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of PriceSmart by 12.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,940 shares of the company’s stock valued at $170,000 after buying an additional 210 shares during the period. Victory Capital Management Inc. grew its holdings in shares of PriceSmart by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,965 shares of the company’s stock valued at $172,000 after buying an additional 295 shares during the period. Finally, Advisor Group Inc. grew its holdings in shares of PriceSmart by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 2,433 shares of the company’s stock valued at $213,000 after buying an additional 39 shares during the period. 72.83% of the stock is owned by institutional investors.

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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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