Short Interest in Cementos Pacasmayo S.A.A. (NYSE:CPAC) Declines By 36.8%

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 12,077 shares, a drop of 36.8% from the April 15th total of 19,124 shares. Based on an average trading volume of 39,976 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Several brokerages have weighed in on CPAC. JPMorgan Chase & Co. upgraded Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $7.50 to $13.00 in a research note on Wednesday, March 4th. Wall Street Zen cut Cementos Pacasmayo S.A.A. from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Zacks Research upgraded Cementos Pacasmayo S.A.A. from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded Cementos Pacasmayo S.A.A. from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.90.

Institutional Investors Weigh In On Cementos Pacasmayo S.A.A.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in 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 valued at $179,000 after acquiring an additional 1,900 shares during the period. Dimensional Fund Advisors LP raised its stake in Cementos Pacasmayo S.A.A. by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,754 shares of the construction company’s stock valued at $958,000 after acquiring an additional 6,054 shares during the period. Virtu Financial LLC bought a new stake in Cementos Pacasmayo S.A.A. in the 4th quarter valued at about $129,000. LPL Financial LLC bought a new stake in Cementos Pacasmayo S.A.A. in the 4th quarter valued at about $155,000. Finally, Millennium Management LLC bought a new stake in Cementos Pacasmayo S.A.A. in the 4th quarter valued at about $167,000.

Cementos Pacasmayo S.A.A. Stock Performance

Cementos Pacasmayo S.A.A. stock traded up $0.04 during midday trading on Monday, reaching $10.55. The stock had a trading volume of 9,368 shares, compared to its average volume of 25,202. Cementos Pacasmayo S.A.A. has a 12 month low of $5.45 and a 12 month high of $11.50. The firm’s 50-day moving average price is $10.50 and its 200 day moving average price is $9.73. The firm has a market capitalization of $893.90 million, a PE ratio of 17.29 and a beta of 0.77. The company has a quick ratio of 0.36, a current ratio of 1.17 and a debt-to-equity ratio of 0.66.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its quarterly earnings data on Friday, April 24th. The construction company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. Cementos Pacasmayo S.A.A. had a return on equity of 14.30% and a net margin of 8.37%.The business had revenue of $158.95 million for the quarter, compared to analysts’ expectations of $146.77 million. As a group, research analysts predict that Cementos Pacasmayo S.A.A. will post 0.47 earnings per share for the current fiscal year.

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.