PriceSmart (NASDAQ:PSMT) Sets New 12-Month High - Time to Buy?

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $109.84 and last traded at $109.13, with a volume of 2738 shares changing hands. The stock had previously closed at $108.35.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of PriceSmart from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st.

PriceSmart Price Performance

The company's 50-day simple moving average is $101.27 and its 200-day simple moving average is $93.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 0.43. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 23.23 and a beta of 0.81.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.06). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The company's revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $1.31 earnings per share. Research analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PriceSmart news, Director Edgar Zurcher sold 390 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $102.78, for a total transaction of $40,084.20. Following the completion of the sale, the director now directly owns 9,279 shares in the company, valued at $953,695.62. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paul Kovaleski sold 896 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $100.85, for a total transaction of $90,361.60. Following the sale, the executive vice president now owns 43,039 shares of the company's stock, valued at $4,340,483.15. This trade represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,836 shares of company stock worth $1,005,273 over the last three months. Insiders own 17.10% of the company's stock.

Institutional Investors Weigh In On PriceSmart

A number of hedge funds and other institutional investors have recently made changes to their positions in PSMT. Geneos Wealth Management Inc. raised its position in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock valued at $26,000 after buying an additional 252 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of PriceSmart by 536.7% in the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock valued at $29,000 after buying an additional 263 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of PriceSmart in the first quarter valued at approximately $42,000. Quarry LP acquired a new stake in shares of PriceSmart in the first quarter valued at approximately $49,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of PriceSmart in the fourth quarter valued at approximately $53,000. 80.46% of the stock is currently 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.