PriceSmart, Inc. owns and operates U.S. style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. Its warehouse clubs sell brand name and private label consumer products, essential goods, fresh produce, prepared foods, and fresh-baked goods, as well as provides services, such as optical, tire center, and other ancillary services. The company also operates Click & Go, an e-commerce platform for online ordering, curbside pickup, and delivery services. As of March 29, 2022, it operated 49 warehouse clubs in 12 countries and one U.S. territory. PriceSmart, Inc. was incorporated in 1994 and is headquartered in San Diego, California.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on PSMT. Scotiabank raised shares of PriceSmart from a "sector perform" rating to a "sector outperform" rating and set a $100.00 price objective on the stock in a report on Tuesday, April 19th. StockNews.com upgraded PriceSmart from a "hold" rating to a "buy" rating in a research report on Tuesday, July 19th.
PriceSmart Stock Performance
NASDAQ:PSMT traded up $1.26 during trading hours on Tuesday, reaching $67.51. The company had a trading volume of 121,493 shares, compared to its average volume of 129,149. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.30 and a quick ratio of 0.50. PriceSmart has a 1-year low of $63.14 and a 1-year high of $88.30. The business's 50 day moving average price is $68.92 and its 200-day moving average price is $74.06. The firm has a market cap of $2.09 billion, a PE ratio of 20.71 and a beta of 0.70.
PriceSmart (NASDAQ:PSMT - Get Rating) last posted its earnings results on Monday, July 11th. The company reported $0.62 earnings per share for the quarter. PriceSmart had a net margin of 2.55% and a return on equity of 10.65%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $951.87 million. During the same period in the previous year, the firm earned $0.73 EPS. The business's quarterly revenue was up 15.1% on a year-over-year basis.
Insider Buying and Selling
In other news, Director Robert E. Price sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $65.93, for a total transaction of $659,300.00. Following the completion of the transaction, the director now directly owns 616,033 shares of the company's stock, valued at approximately $40,615,055.69. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Robert E. Price sold 10,000 shares of the business's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $65.93, for a total transaction of $659,300.00. Following the completion of the sale, the director now owns 616,033 shares of the company's stock, valued at $40,615,055.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Philanthropies Foundatio Price sold 6,800 shares of the firm's stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $71.06, for a total transaction of $483,208.00. Following the completion of the transaction, the insider now directly owns 3,313,755 shares in the company, valued at $235,475,430.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,719 shares of company stock valued at $5,726,163. 20.90% of the stock is owned by company insiders.