PriceSmart (NASDAQ:PSMT) Raised to Buy at StockNews.com

PriceSmart (NASDAQ:PSMT) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

PriceSmart Price Performance

NASDAQ PSMT opened at $89.74 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.75 billion, a PE ratio of 19.64 and a beta of 0.85. The company has a 50 day moving average price of $90.14 and a two-hundred day moving average price of $86.52. PriceSmart has a 12-month low of $66.95 and a 12-month high of $94.82.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.07). The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. PriceSmart’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities analysts predict that PriceSmart will post 5.28 earnings per share for the current fiscal year.

Insider Buying and Selling at PriceSmart

In other news, EVP Paul Kovaleski sold 3,235 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $89.96, for a total value of $291,020.60. Following the completion of the sale, the executive vice president now directly owns 44,309 shares in the company, valued at approximately $3,986,037.64. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Mccleary sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.62, for a total transaction of $358,480.00. Following the completion of the sale, the chief financial officer now owns 62,141 shares of the company’s stock, valued at $5,569,076.42. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,290 shares of company stock worth $1,476,009 over the last ninety days. 18.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PriceSmart

A number of institutional investors have recently added to or reduced their stakes in PSMT. Arizona State Retirement System raised its stake in shares of PriceSmart by 2.3% in the second quarter. Arizona State Retirement System now owns 7,293 shares of the company’s stock valued at $592,000 after acquiring an additional 165 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of PriceSmart by 76.4% during the second quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 181 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of PriceSmart by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 9,864 shares of the company’s stock valued at $801,000 after purchasing an additional 183 shares in the last quarter. Creative Planning raised its position in PriceSmart by 3.2% in the 3rd quarter. Creative Planning now owns 7,720 shares of the company’s stock worth $709,000 after purchasing an additional 236 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in PriceSmart by 3.2% during the 3rd quarter. Diversified Trust Co now owns 8,168 shares of the company’s stock worth $750,000 after buying an additional 257 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.