StockNews.com Downgrades PriceSmart (NASDAQ:PSMT) to Hold

PriceSmart (NASDAQ:PSMT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

PriceSmart Stock Performance

PSMT stock traded down $4.20 during mid-day trading on Friday, hitting $89.25. The company had a trading volume of 485,408 shares, compared to its average volume of 263,651. The stock’s fifty day moving average price is $91.47 and its two-hundred day moving average price is $88.65. PriceSmart has a 12 month low of $74.74 and a 12 month high of $99.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.22. The firm has a market cap of $2.74 billion, a PE ratio of 19.53 and a beta of 0.86.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, January 8th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.22). The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. PriceSmart’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. On average, analysts forecast that PriceSmart will post 5.28 earnings per share for the current fiscal year.

Insider Activity at PriceSmart

In other PriceSmart news, EVP David R. Price sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $92.24, for a total transaction of $253,660.00. Following the sale, the executive vice president now owns 48,844 shares in the company, valued at approximately $4,505,370.56. This trade represents a 5.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.62, for a total transaction of $358,480.00. Following the sale, the chief financial officer now owns 62,141 shares in the company, valued at approximately $5,569,076.42. The trade was a 6.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,463 shares of company stock valued at $1,400,727. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On PriceSmart

Several large investors have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in PriceSmart by 2.3% during the second quarter. Arizona State Retirement System now owns 7,293 shares of the company’s stock worth $592,000 after buying an additional 165 shares during the period. Creative Planning raised its position in shares of PriceSmart by 3.2% in the 3rd quarter. Creative Planning now owns 7,720 shares of the company’s stock valued at $709,000 after purchasing an additional 236 shares during the last quarter. Diversified Trust Co raised its position 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 during the last quarter. QRG Capital Management Inc. raised its position in PriceSmart by 8.4% during the 3rd quarter. QRG Capital Management Inc. now owns 3,496 shares of the company’s stock worth $321,000 after buying an additional 270 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of PriceSmart by 1.3% during the 3rd quarter. Royce & Associates LP now owns 24,094 shares of the company’s stock worth $2,211,000 after purchasing an additional 312 shares during the period. Institutional investors own 80.46% of the company’s stock.

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.