PriceSmart (NASDAQ:PSMT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, January 13th. The brokerage currently has a $92.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.68% from the stock’s current price.
According to Zacks, “PriceSmart, Inc. is primarily engaged in the operation of membership shopping warehouses in international markets. The company’s business consists of international membership shopping stores similar to, but smaller in size than, warehouse clubs in the United States. The warehouses sell basic consumer goods with an emphasis on quality, low prices and efficient operations. By offering low prices on brand name and private label merchandise, the warehouses seek to generate sufficient sales volumes to operate profitably at relatively low gross margins. “
A number of other analysts also recently commented on PSMT. Ifs Securities initiated coverage on PriceSmart in a report on Monday, September 25th. They set a “market perform” rating and a $85.00 price objective for the company. BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Scotia Howard Weill reissued a “sector perform” rating on shares of PriceSmart in a research report on Friday, January 5th. Scotiabank reissued a “sector perform” rating on shares of PriceSmart in a research report on Tuesday, January 9th. Finally, Roth Capital reissued a “buy” rating and issued a $100.00 price objective on shares of PriceSmart in a research report on Monday, October 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $91.75.
PriceSmart (NASDAQ PSMT) opened at $84.65 on Friday. PriceSmart has a 52 week low of $78.00 and a 52 week high of $94.00. The firm has a market capitalization of $2,573.66, a price-to-earnings ratio of 29.19 and a beta of 1.31. The company has a current ratio of 1.39, a quick ratio of 0.44 and a debt-to-equity ratio of 0.11.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Thursday, January 4th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.08). The firm had revenue of $767.10 million for the quarter, compared to analyst estimates of $764.67 million. PriceSmart had a return on equity of 12.61% and a net margin of 2.92%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. sell-side analysts expect that PriceSmart will post 3.2 earnings per share for the current year.
In other PriceSmart news, CEO Jose Luis Laparte sold 12,772 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $82.58, for a total value of $1,054,711.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John D. Hildebrandt sold 1,614 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $83.47, for a total transaction of $134,720.58. Following the completion of the transaction, the executive vice president now directly owns 17,237 shares in the company, valued at approximately $1,438,772.39. The disclosure for this sale can be found here. Insiders have sold 44,997 shares of company stock worth $3,683,782 in the last ninety days. Corporate insiders own 28.00% of the company’s stock.
Large investors have recently made changes to their positions in the business. Citigroup Inc. increased its stake in shares of PriceSmart by 18.5% in the second quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after purchasing an additional 220 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of PriceSmart by 16.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after purchasing an additional 206 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of PriceSmart by 12.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,940 shares of the company’s stock valued at $170,000 after purchasing an additional 210 shares during the period. Victory Capital Management Inc. increased its stake in shares of PriceSmart by 17.7% in the second quarter. Victory Capital Management Inc. now owns 1,965 shares of the company’s stock valued at $172,000 after purchasing an additional 295 shares during the period. Finally, Advisor Group Inc. increased its stake in shares of PriceSmart by 1.6% in the second quarter. Advisor Group Inc. now owns 2,433 shares of the company’s stock valued at $213,000 after purchasing an additional 39 shares during the period. Institutional investors own 72.81% of the company’s stock.
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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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