Zacks Investment Research Upgrades PriceSmart, Inc. (PSMT) to “Hold”

PriceSmart, Inc. (NASDAQ:PSMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

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. “

Other analysts have also recently issued research reports about the company. Roth Capital set a $102.00 price objective on PriceSmart and gave the company a “buy” rating in a research report on Tuesday, August 8th. TheStreet cut PriceSmart from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Finally, BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.

Shares of PriceSmart (PSMT) opened at 83.75 on Tuesday. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 27.38 and a beta of 1.25. PriceSmart has a 52-week low of $78.00 and a 52-week high of $94.40. The company has a 50-day moving average price of $82.70 and a 200-day moving average price of $86.52.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.05. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The business had revenue of $730.30 million during the quarter, compared to analysts’ expectations of $734.80 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that PriceSmart will post $3.07 earnings per share for the current year.

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In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total transaction of $302,257.68. Following the completion of the sale, the director now owns 125,374 shares in the company, valued at $10,641,745.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its holdings in PriceSmart by 1.6% during 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. Principal Financial Group Inc. grew its holdings in PriceSmart by 2.9% during the first quarter. Principal Financial Group Inc. now owns 2,857 shares of the company’s stock valued at $263,000 after purchasing an additional 81 shares during the period. First Midwest Bank Trust Division grew its holdings in PriceSmart by 2.3% during the second quarter. First Midwest Bank Trust Division now owns 8,694 shares of the company’s stock valued at $762,000 after purchasing an additional 199 shares during the period. Public Employees Retirement System of Ohio grew its holdings in PriceSmart by 16.4% during 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. Finally, Ameritas Investment Partners Inc. grew its holdings in PriceSmart by 12.1% during 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. 71.98% of the stock is owned by institutional investors and hedge funds.

PriceSmart Company Profile

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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