Zacks Research Downgrades Cementos Pacasmayo S.A.A. (NYSE:CPAC) to Strong Sell

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on CPAC. Wall Street Zen lowered Cementos Pacasmayo S.A.A. from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. raised Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $7.50 to $13.00 in a report on Wednesday, March 4th. Weiss Ratings downgraded Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 17th. Finally, Scotiabank raised their target price on shares of Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the company a “sector perform” rating in a report on Friday, December 19th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $12.90.

Cementos Pacasmayo S.A.A. Stock Performance

CPAC opened at $10.18 on Thursday. The stock has a market capitalization of $863.21 million, a price-to-earnings ratio of 20.78 and a beta of 0.69. The company has a fifty day moving average of $10.62 and a 200 day moving average of $8.85. Cementos Pacasmayo S.A.A. has a fifty-two week low of $5.10 and a fifty-two week high of $11.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 1.09.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its quarterly earnings results on Friday, February 13th. The construction company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.11). Cementos Pacasmayo S.A.A. had a return on equity of 11.85% and a net margin of 7.11%.The company had revenue of $179.83 million during the quarter, compared to analysts’ expectations of $174.95 million. As a group, sell-side analysts forecast that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Cementos Pacasmayo S.A.A. during the fourth quarter worth approximately $129,000. LPL Financial LLC bought a new stake in shares of Cementos Pacasmayo S.A.A. in the 4th quarter valued at approximately $155,000. Millennium Management LLC bought a new stake in shares of Cementos Pacasmayo S.A.A. in the 4th quarter valued at approximately $167,000. BNP Paribas Financial Markets boosted its holdings in shares of Cementos Pacasmayo S.A.A. by 6.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock worth $179,000 after purchasing an additional 1,900 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in shares of Cementos Pacasmayo S.A.A. in the 3rd quarter worth approximately $522,000.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA. is a Peru‐based cement and construction materials company engaged in the production, distribution and sale of cement and related products. The company’s core activities include manufacturing ordinary portland cement, hydrated lime and other industrial minerals. It serves the building and infrastructure sectors, offering tailored solutions for public works, residential and commercial construction projects.

Founded in 1949 in the coastal city of Pacasmayo, the company has grown into one of Peru’s leading cement producers.