PriceSmart (NASDAQ:PSMT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
A number of other brokerages also recently commented on PSMT. Scotia Howard Weill reissued a “sector perform” rating on shares of PriceSmart in a research report on Friday, January 5th. Howard Weil downgraded shares of PriceSmart from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, January 5th. Scotiabank downgraded shares of PriceSmart to a “hold” rating and set a $90.00 price objective for the company. in a research report on Friday, January 5th. BidaskClub raised shares of PriceSmart from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Ifs Securities raised shares of PriceSmart from a “market perform” rating to an “outperform” rating in a research report on Friday, December 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. PriceSmart currently has a consensus rating of “Hold” and a consensus price target of $92.50.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Thursday, January 4th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.08). PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. The business had revenue of $767.10 million during the quarter, compared to analyst estimates of $764.67 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts anticipate that PriceSmart will post 3.2 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in PSMT. Public Employees Retirement System of Ohio boosted its holdings in shares of PriceSmart by 16.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock worth $128,000 after buying an additional 206 shares during the period. First Trust Advisors LP boosted its holdings in shares of PriceSmart by 28.5% during the 3rd quarter. First Trust Advisors LP now owns 7,116 shares of the company’s stock worth $635,000 after buying an additional 1,580 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of PriceSmart by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 110,022 shares of the company’s stock worth $9,820,000 after buying an additional 972 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of PriceSmart by 105.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 79,557 shares of the company’s stock worth $7,100,000 after buying an additional 40,877 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of PriceSmart by 9.6% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,511,335 shares of the company’s stock worth $134,887,000 after buying an additional 132,555 shares during the period. 77.33% of the stock is owned by institutional investors and hedge funds.
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PriceSmart Company Profile
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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