PriceSmart Inc. (PSMT) Sees Unusually-High Trading Volume
PriceSmart Inc. (NASDAQ:PSMT) shares saw unusually-strong trading volume on Friday . Approximately 171,278 shares changed hands 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.
A number of equities analysts recently issued reports on PSMT shares. Zacks Investment Research downgraded 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 research note on Friday, June 10th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $71.00.
The firm’s 50 day moving average price is $82.99 and its 200 day moving average price is $82.99. The stock has a market capitalization of $2.51 billion and a P/E ratio of 28.73.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Thursday, July 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by $0.15. The firm earned $704.30 million during the quarter. During the same period in the prior year, the business posted $0.70 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts expect that PriceSmart Inc. will post $2.92 EPS for the current year.
Several large investors recently made changes to their positions in PSMT. 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 valued at $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 valued at $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 valued at $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 valued at $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 valued at $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.
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