PriceSmart Inc. (PSMT) Sees Strong Trading Volume
PriceSmart Inc. (NASDAQ:PSMT) shares saw strong trading volume on Friday . 171,278 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 127,590 shares.The stock last traded at $83.32 and had previously closed at $82.00.
Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of 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 Friday, June 10th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $71.00.
The stock has a 50 day moving average of $83.22 and a 200 day moving average of $82.90. The company has a market capitalization of $2.51 billion and a P/E ratio of 28.73.
PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Thursday, July 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.15. The company had revenue of $704.30 million for the quarter. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. On average, analysts expect that PriceSmart Inc. will post $2.92 EPS for the current fiscal year.
Other large investors recently made changes to their positions in the company. Rhumbline Advisers raised 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 valued at $1,848,000 after buying an additional 1,120 shares during the period. Russell Frank Co raised 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 valued at $2,341,000 after buying an additional 7,110 shares during the period. Eaton Vance Management raised 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 valued at $3,005,000 after buying an additional 25,000 shares during the period. New York State Common Retirement Fund raised 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 valued at $4,975,000 after buying an additional 700 shares during the period. Finally, Wells Fargo & Company MN raised 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 valued at $13,193,000 after buying an additional 7,587 shares during the period.
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.
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