PriceSmart (PSMT) Downgraded by Howard Weil

Howard Weil cut shares of PriceSmart (NASDAQ:PSMT) from a sector outperform rating to a sector perform rating in a report released on Friday morning, MarketBeat.com reports.

PSMT has been the subject of a number of other reports. Ifs Securities initiated coverage on shares of PriceSmart in a report on Monday, September 25th. They issued a market perform rating and a $85.00 price objective for the company. Zacks Investment Research upgraded shares of PriceSmart from a sell rating to a hold rating in a report on Tuesday, September 12th. BidaskClub upgraded shares of PriceSmart from a sell rating to a hold rating in a report on Thursday, January 4th. Scotiabank lowered shares of PriceSmart to a hold rating and set a $90.00 price target for the company. in a report on Friday. Finally, Roth Capital reiterated a buy rating and set a $100.00 price target on shares of PriceSmart in a report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $92.75.

Shares of PriceSmart (NASDAQ:PSMT) traded up $0.85 on Friday, hitting $82.10. 486,800 shares of the stock were exchanged, compared to its average volume of 299,200. The company has a market cap of $2,470.00, a price-to-earnings ratio of 28.31 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 has a 1 year low of $78.00 and a 1 year high of $94.00.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Thursday, January 4th. The company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.08). The business had revenue of $767.10 million during the quarter, compared to the consensus estimate of $764.67 million. PriceSmart had a return on equity of 12.61% and a net margin of 2.92%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. equities research analysts forecast that PriceSmart will post 3.2 EPS for the current year.

In other PriceSmart 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 transaction of $134,720.58. Following the transaction, the executive vice president now directly owns 17,237 shares of the company’s stock, valued at approximately $1,438,772.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO William J. Naylon sold 2,400 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $80.05, for a total transaction of $192,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,997 shares of company stock valued at $3,683,782 over the last quarter. 28.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of PSMT. Citigroup Inc. increased its position in PriceSmart by 18.5% during the 2nd 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 position in PriceSmart by 16.4% during the 2nd 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 position in PriceSmart by 12.1% during the 2nd 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 position in PriceSmart by 17.7% during the 2nd 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 position in PriceSmart by 1.6% during the 2nd 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. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for PriceSmart (NASDAQ:PSMT)

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