PriceSmart (NASDAQ:PSMT) Sets New 1-Year High – Still a Buy?

Shares of PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high on Friday . The company traded as high as $177.45 and last traded at $175.6650, with a volume of 143109 shares trading hands. The stock had previously closed at $173.07.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

PriceSmart Stock Up 0.4%

The business’s 50 day moving average is $159.16 and its 200-day moving average is $145.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The company has a market cap of $5.37 billion, a PE ratio of 34.28 and a beta of 0.78.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis.

Insider Transactions at PriceSmart

In other news, Director Edgar Zurcher sold 2,259 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the completion of the sale, the director owned 8,151 shares in the company, valued at approximately $1,264,790.67. The trade was a 21.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the sale, the executive vice president owned 75,659 shares of the company’s stock, valued at $11,996,491.04. This represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,232 shares of company stock worth $504,198. 17.00% of the stock is currently owned by insiders.

Institutional Trading of PriceSmart

Several institutional investors have recently modified their holdings of PSMT. Maryland State Retirement & Pension System lifted its stake in PriceSmart by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock worth $454,000 after purchasing an additional 73 shares during the last quarter. Parallel Advisors LLC lifted its stake in PriceSmart by 14.3% during the fourth quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock worth $72,000 after purchasing an additional 74 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in PriceSmart by 10.9% during the second quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock worth $101,000 after purchasing an additional 93 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in PriceSmart by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,004 shares of the company’s stock worth $607,000 after purchasing an additional 93 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in PriceSmart by 15.1% during the fourth quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock worth $91,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Company Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.