PriceSmart, Inc. (NASDAQ:PSMT – Get Free Report)’s share price crossed above its 50 day moving average during trading on Monday following a stronger than expected earnings report. The stock has a 50 day moving average of $171.52 and traded as high as $174.33. PriceSmart shares last traded at $173.11, with a volume of 339,183 shares traded.
The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $1.02 EPS. PriceSmart’s revenue for the quarter was up 13.9% compared to the same quarter last year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on PSMT shares. Weiss Ratings restated a “buy (b)” rating on shares of PriceSmart in a report on Wednesday, August 26th. Jefferies Financial Group reiterated a “buy” rating and set a $198.00 price objective on shares of PriceSmart in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, PriceSmart has an average rating of “Buy” and a consensus price target of $198.00.
Get Our Latest Stock Analysis on PriceSmart
Insider Activity
In other PriceSmart news, EVP Francisco Velasco sold 338 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total value of $60,120.06. Following the completion of the sale, the executive vice president owned 75,321 shares of the company’s stock, valued at approximately $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $197.38, for a total value of $690,632.62. Following the sale, the director owned 32,150 shares in the company, valued at $6,345,767. The trade was a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,937 shares of company stock worth $1,349,392 over the last ninety days. 17.00% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On PriceSmart
Hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in shares of PriceSmart during the third quarter worth $32,000. Bell Investment Advisors Inc purchased a new stake in shares of PriceSmart during the second quarter valued at $40,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of PriceSmart in the 2nd quarter valued at $67,000. State of Wyoming acquired a new position in shares of PriceSmart in the 2nd quarter valued at $92,000. Finally, Fortitude Family Office LLC increased its position in shares of PriceSmart by 1,592.9% in the 3rd quarter. Fortitude Family Office LLC now owns 474 shares of the company’s stock valued at $80,000 after acquiring an additional 446 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.
PriceSmart Price Performance
The company has a market cap of $5.34 billion, a PE ratio of 33.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. The stock has a 50 day moving average of $171.52 and a 200-day moving average of $165.66.
PriceSmart Company Profile
PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.
Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.
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