PriceSmart (PSMT) Lifted to “Sell” at BidaskClub

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PriceSmart (NASDAQ:PSMT) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.

PSMT has been the topic of several other reports. Zacks Investment Research raised shares of PriceSmart from a “strong sell” rating to a “hold” rating in a report on Monday, September 10th. ValuEngine lowered shares of PriceSmart from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Scotiabank set a $86.00 price target on shares of PriceSmart and gave the company a “hold” rating in a report on Wednesday, July 11th. Finally, TheStreet lowered shares of PriceSmart from a “b-” rating to a “c+” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. PriceSmart currently has an average rating of “Hold” and an average target price of $90.50.

NASDAQ:PSMT traded up $2.22 during mid-day trading on Friday, hitting $79.24. The company’s stock had a trading volume of 303,900 shares, compared to its average volume of 176,870. PriceSmart has a 1 year low of $74.61 and a 1 year high of $94.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 1.36. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 26.59 and a beta of 1.14.

In other PriceSmart news, Director Robert E. Price sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $82.93, for a total value of $829,300.00. Following the completion of the transaction, the director now owns 80 shares in the company, valued at $6,634.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 60,000 shares of company stock valued at $4,911,700. Insiders own 28.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. First Hawaiian Bank acquired a new position in shares of PriceSmart in the third quarter worth about $380,000. Atria Investments LLC acquired a new position in shares of PriceSmart in the third quarter worth about $208,000. Northern Trust Corp raised its position in shares of PriceSmart by 2.8% in the second quarter. Northern Trust Corp now owns 341,337 shares of the company’s stock worth $30,891,000 after acquiring an additional 9,283 shares during the period. FMR LLC raised its position in shares of PriceSmart by 6.1% in the second quarter. FMR LLC now owns 1,337,985 shares of the company’s stock worth $121,088,000 after acquiring an additional 76,580 shares during the period. Finally, Zebra Capital Management LLC acquired a new position in shares of PriceSmart in the second quarter worth about $458,000. Institutional investors and hedge funds own 76.44% of the company’s stock.

PriceSmart Company Profile

PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

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