PriceSmart (NASDAQ:PSMT) Stock Rating Lowered by StockNews.com

PriceSmart (NASDAQ:PSMT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

PriceSmart Stock Performance

NASDAQ:PSMT traded up $1.48 during trading hours on Friday, hitting $89.96. 177,427 shares of the company were exchanged, compared to its average volume of 150,001. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 0.45. PriceSmart has a 52-week low of $66.95 and a 52-week high of $94.82. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 19.68 and a beta of 0.85. The company’s 50 day moving average price is $90.08 and its 200-day moving average price is $86.33.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.07). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. PriceSmart’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. As a group, research analysts forecast that PriceSmart will post 5.28 earnings per share for the current year.

Insider Activity at PriceSmart

In related news, EVP Francisco Velasco sold 670 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $89.05, for a total transaction of $59,663.50. Following the completion of the transaction, the executive vice president now directly owns 79,470 shares in the company, valued at $7,076,803.50. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David R. Price sold 2,750 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $92.24, for a total transaction of $253,660.00. Following the completion of the sale, the executive vice president now directly owns 48,844 shares in the company, valued at approximately $4,505,370.56. The trade was a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,960 shares of company stock worth $1,535,673 over the last quarter. Insiders own 18.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PSMT. Arizona State Retirement System lifted its stake in shares of PriceSmart by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 7,293 shares of the company’s stock valued at $592,000 after purchasing an additional 165 shares during the period. GAMMA Investing LLC boosted its stake in shares of PriceSmart by 76.4% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 181 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of PriceSmart by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,864 shares of the company’s stock valued at $801,000 after acquiring an additional 183 shares during the period. US Bancorp DE increased its stake in shares of PriceSmart by 5.2% in the 1st quarter. US Bancorp DE now owns 4,239 shares of the company’s stock valued at $356,000 after purchasing an additional 209 shares in the last quarter. Finally, Creative Planning increased its stake in shares of PriceSmart by 3.2% in the 3rd quarter. Creative Planning now owns 7,720 shares of the company’s stock valued at $709,000 after purchasing an additional 236 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.