Cementos Pacasmayo S.A.A. (NYSE:CPAC) Raised to “Neutral” at JPMorgan Chase & Co.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm presently has a $13.00 price target on the construction company’s stock, up from their previous price target of $7.50. JPMorgan Chase & Co.‘s target price points to a potential upside of 24.40% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Scotiabank increased their price objective on Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a “sector perform” rating in a report on Friday, December 19th. Weiss Ratings cut shares of Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of Cementos Pacasmayo S.A.A. to a “buy” rating in a report on Saturday, January 17th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.90.

Cementos Pacasmayo S.A.A. Stock Down 1.4%

Shares of NYSE:CPAC opened at $10.45 on Wednesday. Cementos Pacasmayo S.A.A. has a 12 month low of $5.10 and a 12 month high of $11.50. The company’s fifty day simple moving average is $10.69 and its 200 day simple moving average is $8.44. 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 earnings results on Friday, February 13th. The construction company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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 $166.82 million during the quarter, compared to analyst estimates of $174.95 million. As a group, equities research analysts predict that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of 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 buying an additional 6,054 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Cementos Pacasmayo S.A.A. during the third quarter worth $522,000. BNP Paribas Financial Markets lifted its stake 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 valued at $179,000 after acquiring an additional 1,900 shares during the last quarter. Millennium Management LLC acquired a new stake in Cementos Pacasmayo S.A.A. in the fourth quarter valued at $167,000. Finally, LPL Financial LLC bought a new position in shares of Cementos Pacasmayo S.A.A. in the 4th quarter valued at about $155,000.

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.