PriceSmart Inc. (NASDAQ:PSMT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday.
According to Zacks, “PriceSmart, Inc. is primarily engaged in the operation of membership shopping warehouses in international markets. The company’s business consists of international membership shopping stores similar to, but smaller in size than, warehouse clubs in the United States. The warehouses sell basic consumer goods with an emphasis on quality, low prices and efficient operations. By offering low prices on brand name and private label merchandise, the warehouses seek to generate sufficient sales volumes to operate profitably at relatively low gross margins. “
Separately, Roth Capital reaffirmed a “buy” rating on shares of PriceSmart in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $69.33.
PriceSmart (NASDAQ:PSMT) opened at 86.02 on Thursday. The company’s 50-day moving average price is $83.04 and its 200 day moving average price is $84.62. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 29.38 and a beta of 1.50. PriceSmart has a 52-week low of $68.51 and a 52-week high of $98.49.
A number of hedge funds and other institutional investors have recently made changes to their positions in PSMT. Harding Loevner LP raised its position in shares of PriceSmart by 0.6% in the second quarter. Harding Loevner LP now owns 85,170 shares of the company’s stock worth $7,969,000 after buying an additional 500 shares during the last quarter. Douglass Winthrop Advisors LLC purchased a new position in shares of PriceSmart during the second quarter worth approximately $402,000. GW&K Investment Management LLC raised its position in shares of PriceSmart by 16.6% in the second quarter. GW&K Investment Management LLC now owns 208,295 shares of the company’s stock worth $19,490,000 after buying an additional 29,601 shares during the last quarter. Avalon Advisors LLC purchased a new position in shares of PriceSmart during the first quarter worth approximately $850,000. Finally, Renaissance Technologies LLC raised its position in shares of PriceSmart by 105.5% in the first quarter. Renaissance Technologies LLC now owns 279,900 shares of the company’s stock worth $23,674,000 after buying an additional 143,700 shares during the last quarter. Hedge funds and other institutional investors own 72.69% of the company’s stock.
PriceSmart Company Profile
PriceSmart, Inc (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart.
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