PriceSmart (NASDAQ:PSMT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of PriceSmart (NASDAQ:PSMT) from a buy rating to a hold rating in a research report released on Sunday morning.

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of PriceSmart in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

PriceSmart Price Performance

PSMT stock opened at $134.45 on Friday. The stock’s 50 day moving average price is $123.07 and its 200 day moving average price is $116.63. The firm has a market cap of $4.14 billion, a P/E ratio of 27.44 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 1.33. PriceSmart has a 1 year low of $81.25 and a 1 year high of $136.90.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, sell-side analysts expect that PriceSmart will post 5.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gordon H. Hanson sold 851 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $117.44, for a total value of $99,941.44. Following the completion of the transaction, the director directly owned 7,653 shares in the company, valued at approximately $898,768.32. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul Kovaleski sold 1,305 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $114.55, for a total value of $149,487.75. Following the completion of the sale, the executive vice president directly owned 43,109 shares in the company, valued at approximately $4,938,135.95. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,156 shares of company stock valued at $1,400,429 over the last quarter. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in PriceSmart by 13.0% during the fourth quarter. GAMMA Investing LLC now owns 1,084 shares of the company’s stock worth $133,000 after purchasing an additional 125 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of PriceSmart during the 3rd quarter valued at $3,464,000. CIBC Bancorp USA Inc. purchased a new stake in shares of PriceSmart during the 3rd quarter valued at $332,000. Advisory Services Network LLC acquired a new stake in shares of PriceSmart during the 3rd quarter worth $127,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of PriceSmart by 1.6% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 28,617 shares of the company’s stock worth $3,509,000 after buying an additional 452 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

About PriceSmart

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.