PriceSmart (NASDAQ:PSMT) PT Raised to $90.00

PriceSmart (NASDAQ:PSMT) had its price objective lifted by Jefferies Financial Group from $82.00 to $90.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 11.91% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 13th. TheStreet raised shares of PriceSmart from a “c+” rating to a “b-” rating in a research note on Tuesday, January 30th.

PriceSmart Stock Up 1.3 %

PSMT stock opened at $80.42 on Wednesday. PriceSmart has a 52 week low of $61.82 and a 52 week high of $86.90. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 20.21 and a beta of 0.92. The firm’s 50-day moving average is $81.79 and its two-hundred day moving average is $75.76. The company has a current ratio of 1.20, a quick ratio of 0.49 and a debt-to-equity ratio of 0.09.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, April 10th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. PriceSmart had a net margin of 2.62% and a return on equity of 11.85%. PriceSmart’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. On average, analysts forecast that PriceSmart will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at PriceSmart

In other news, Director Gordon H. Hanson sold 937 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.86, for a total value of $74,828.82. Following the completion of the sale, the director now directly owns 7,969 shares in the company, valued at $636,404.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Edgar Zurcher sold 1,075 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $79.08, for a total value of $85,011.00. Following the completion of the sale, the director now directly owns 8,822 shares in the company, valued at $697,643.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon H. Hanson sold 937 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.86, for a total transaction of $74,828.82. Following the completion of the sale, the director now owns 7,969 shares of the company’s stock, valued at $636,404.34. The disclosure for this sale can be found here. Corporate insiders own 18.60% of the company’s stock.

Institutional Trading of PriceSmart

A number of institutional investors and hedge funds have recently modified their holdings of PSMT. Point72 Hong Kong Ltd acquired a new stake in shares of PriceSmart in the first quarter worth $37,000. Headlands Technologies LLC acquired a new position in PriceSmart during the 3rd quarter valued at $47,000. Tower Research Capital LLC TRC raised its stake in PriceSmart by 80.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 759 shares of the company’s stock valued at $54,000 after purchasing an additional 338 shares during the last quarter. TFO Wealth Partners LLC raised its stake in PriceSmart by 30,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 912 shares of the company’s stock valued at $69,000 after purchasing an additional 909 shares during the last quarter. Finally, CWM LLC raised its stake in PriceSmart by 331.4% during the 4th quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $79,000 after purchasing an additional 802 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Company Profile

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.