PriceSmart, Inc. (PSMT) Now Covered by Ifs Securities
Investment analysts at Ifs Securities assumed coverage on shares of PriceSmart, Inc. (NASDAQ:PSMT) in a report released on Monday. The firm set a “market perform” rating on the stock.
Several other research firms also recently weighed in on PSMT. TheStreet downgraded PriceSmart from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, Roth Capital set a $102.00 price target on PriceSmart and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $102.50.
PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $730.30 million during the quarter, compared to analysts’ expectations of $734.80 million. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS.
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In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total value of $302,257.68. Following the transaction, the director now directly owns 125,374 shares of the company’s stock, valued at approximately $10,641,745.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 28.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its position in PriceSmart by 18.5% in the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after acquiring an additional 220 shares in the last quarter. Public Employees Retirement System of Ohio lifted 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 valued at $128,000 after buying an additional 206 shares during the period. SG Americas Securities LLC bought a new position in shares of PriceSmart during the 1st quarter valued at $135,000. Victory Capital Management Inc. lifted its holdings in shares of PriceSmart by 23.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,670 shares of the company’s stock valued at $154,000 after buying an additional 321 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of PriceSmart during the 1st quarter valued at $160,000. 71.98% of the stock is currently owned by institutional investors and hedge funds.
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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