Cementos Pacasmayo S.A.A. (CPAC) Downgraded to “Sector Perform” at Scotiabank
Scotiabank cut shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) from a sector outperform rating to a sector perform rating in a research note released on Saturday. They currently have $14.10 price objective on the construction company’s stock, up from their previous price objective of $11.90.
A number of other analysts have also commented on CPAC. BidaskClub lowered Cementos Pacasmayo S.A.A. from a hold rating to a sell rating in a research note on Thursday, July 20th. Bank of America Corporation increased their price objective on Cementos Pacasmayo S.A.A. from $9.90 to $11.00 and gave the stock an underperform rating in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded Cementos Pacasmayo S.A.A. from a hold rating to a sell rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company has an average rating of Hold and a consensus target price of $12.03.
Shares of Cementos Pacasmayo S.A.A. (CPAC) traded down 1.45% during mid-day trading on Friday, reaching $12.91. 993 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $12.08 and a 200 day moving average of $11.34. Cementos Pacasmayo S.A.A. has a one year low of $8.52 and a one year high of $13.39.
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An institutional investor recently raised its position in Cementos Pacasmayo S.A.A. stock. Dimensional Fund Advisors LP boosted its position in Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 11.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,297 shares of the construction company’s stock after purchasing an additional 8,067 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Cementos Pacasmayo S.A.A. were worth $872,000 at the end of the most recent quarter. 1.06% of the stock is owned by institutional investors and hedge funds.
Cementos Pacasmayo S.A.A. Company Profile
Pacasmayo Cement Corp, formerly Cementos Pacasmayo SAA, is a Peru-based company principally engaged in the production, distribution and sale of construction materials. The Company is active in the development of traditional and blended cement, ready-mix concrete, mortars, quicklime, concrete blocks, diatomite bricks and aggregates, among others.
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