Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Large Volume Increase – Here’s Why

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw unusually-strong trading volume on Tuesday . Approximately 138,610 shares traded hands during mid-day trading, an increase of 489% from the previous session’s volume of 23,549 shares.The stock last traded at $10.55 and had previously closed at $9.53.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings cut Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 17th. Wall Street Zen lowered shares of Cementos Pacasmayo S.A.A. from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Scotiabank boosted their price objective on shares of Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the company a “sector perform” rating in a research note on Friday, December 19th. JPMorgan Chase & Co. raised shares of Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $7.50 to $13.00 in a report on Wednesday, March 4th. Finally, Zacks Research cut shares of Cementos Pacasmayo S.A.A. from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 26th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $12.90.

Cementos Pacasmayo S.A.A. Price Performance

The business has a 50 day simple moving average of $10.59 and a two-hundred day simple moving average of $8.94. The firm has a market capitalization of $896.95 million, a P/E ratio of 21.59 and a beta of 0.74. 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 issued its quarterly earnings results on Friday, February 13th. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The business had revenue of $179.83 million for the quarter, compared to the consensus estimate of $174.95 million. Cementos Pacasmayo S.A.A. had a net margin of 7.11% and a return on equity of 11.85%. On average, sell-side analysts expect that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Cementos Pacasmayo S.A.A.

A number of hedge funds and other institutional investors have recently bought and sold shares of CPAC. Virtu Financial LLC bought a new position in shares of Cementos Pacasmayo S.A.A. in the 4th quarter worth $129,000. LPL Financial LLC bought a new stake in shares of Cementos Pacasmayo S.A.A. during the 4th quarter worth $155,000. Millennium Management LLC purchased a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth $167,000. BNP Paribas Financial Markets grew its position in Cementos Pacasmayo S.A.A. by 6.7% in the second quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock worth $179,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in Cementos Pacasmayo S.A.A. in the third quarter valued at $522,000.

Cementos Pacasmayo S.A.A. Company Profile

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.