PriceSmart (NASDAQ:PSMT) Lifted to Sector Outperform at Scotiabank

PriceSmart (NASDAQ:PSMTGet Rating) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued on Tuesday, The Fly reports. The brokerage currently has a $100.00 price objective on the stock. Scotiabank’s price target points to a potential upside of 25.60% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. StockNews.com initiated coverage on PriceSmart in a research report on Thursday, March 31st. They set a “buy” rating on the stock. UBS Group raised PriceSmart from a “market perform” rating to an “outperform” rating in a research report on Friday, January 7th.

PSMT stock traded up $0.48 during midday trading on Tuesday, reaching $79.62. The company’s stock had a trading volume of 572 shares, compared to its average volume of 114,692. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.48 and a current ratio of 1.32. The stock has a fifty day simple moving average of $76.45 and a two-hundred day simple moving average of $75.01. PriceSmart has a 1 year low of $66.77 and a 1 year high of $95.47. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 23.64 and a beta of 0.83.

PriceSmart (NASDAQ:PSMTGet Rating) last released its earnings results on Thursday, April 7th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.03. PriceSmart had a return on equity of 11.20% and a net margin of 2.72%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year.

In other PriceSmart news, major shareholder Philanthropies Foundatio Price sold 7,854 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $71.06, for a total value of $558,105.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert E. Price sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $70.38, for a total value of $703,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,904 shares of company stock valued at $5,632,980. Company insiders own 20.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of PSMT. SG Americas Securities LLC boosted its position in shares of PriceSmart by 301.9% during the 3rd quarter. SG Americas Securities LLC now owns 57,519 shares of the company’s stock worth $4,461,000 after acquiring an additional 43,206 shares in the last quarter. Yousif Capital Management LLC acquired a new position in shares of PriceSmart during the 4th quarter worth about $1,606,000. Wellington Management Group LLP acquired a new position in shares of PriceSmart during the 3rd quarter worth about $388,000. Nordea Investment Management AB boosted its position in shares of PriceSmart by 4.2% during the 4th quarter. Nordea Investment Management AB now owns 10,282 shares of the company’s stock worth $749,000 after acquiring an additional 415 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of PriceSmart by 66.6% in the 3rd quarter. GSA Capital Partners LLP now owns 3,996 shares of the company’s stock valued at $310,000 after purchasing an additional 1,598 shares during the period. Hedge funds and other institutional investors own 77.01% of the company’s stock.

About PriceSmart (Get Rating)

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. Its warehouse clubs sell brand name and private label consumer products, essential goods, fresh produce, prepared foods, and fresh-baked goods, as well as provides services, such as optical, tire center, and other ancillary services.

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