Shares of PriceSmart Inc. (NASDAQ:PSMT) gapped up before the market opened on Wednesday . The stock had previously closed at $79.27, but opened at $79.59. PriceSmart shares last traded at $80.68, with a volume of 43,181 shares traded.

Several research firms recently issued reports on PSMT. Zacks Investment Research lowered PriceSmart from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Roth Capital reiterated a “buy” rating on shares of PriceSmart in a report on Monday, July 11th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $71.00.

The firm has a 50-day moving average price of $83.47 and a 200 day moving average price of $82.91. The firm has a market cap of $2.40 billion and a PE ratio of 27.50.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Thursday, July 7th. The company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.15. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business earned $704.30 million during the quarter. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts forecast that PriceSmart Inc. will post $2.92 EPS for the current year.

A number of hedge funds have modified their holdings of the company. Rhumbline Advisers increased its stake in shares of PriceSmart by 5.3% in the fourth quarter. Rhumbline Advisers now owns 22,271 shares of the company’s stock worth $1,848,000 after buying an additional 1,120 shares during the last quarter. Russell Frank Co increased its stake in shares of PriceSmart by 34.0% in the fourth quarter. Russell Frank Co now owns 28,029 shares of the company’s stock worth $2,341,000 after buying an additional 7,110 shares during the last quarter. Eaton Vance Management increased its stake in shares of PriceSmart by 223.0% in the fourth quarter. Eaton Vance Management now owns 36,212 shares of the company’s stock worth $3,005,000 after buying an additional 25,000 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of PriceSmart by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 59,951 shares of the company’s stock worth $4,975,000 after buying an additional 700 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of PriceSmart by 5.0% in the fourth quarter. Wells Fargo & Company MN now owns 158,974 shares of the company’s stock worth $13,193,000 after buying an additional 7,587 shares during the last quarter.

PriceSmart, Inc (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.