Cementos Pacasmayo S.A.A. (NYSE:CPAC) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) from a hold rating to a strong sell rating in a research note released on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on CPAC. Scotiabank increased their price target on Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the company a “sector perform” rating in a research report 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 price objective for the company from $7.50 to $13.00 in a research note on Wednesday, March 4th. Wall Street Zen cut shares of Cementos Pacasmayo S.A.A. from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings downgraded shares of Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 17th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $12.90.

Cementos Pacasmayo S.A.A. Stock Performance

CPAC opened at $10.18 on Thursday. The firm has a market cap of $863.25 million, a PE ratio of 20.78 and a beta of 0.69. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $10.62 and a 200-day simple moving average of $8.86. Cementos Pacasmayo S.A.A. has a fifty-two week low of $5.10 and a fifty-two week high of $11.50.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last issued its 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). 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 analyst estimates of $174.95 million. As a group, equities analysts predict that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current fiscal year.

Institutional Trading of Cementos Pacasmayo S.A.A.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in Cementos Pacasmayo S.A.A. by 6.7% during the second quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock valued at $179,000 after buying an additional 1,900 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cementos Pacasmayo S.A.A. by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 91,754 shares of the construction company’s stock worth $958,000 after purchasing an additional 6,054 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth approximately $129,000. LPL Financial LLC acquired a new stake in shares of Cementos Pacasmayo S.A.A. during the fourth quarter worth approximately $155,000. Finally, Millennium Management LLC acquired a new stake in shares of Cementos Pacasmayo S.A.A. during the fourth quarter worth approximately $167,000.

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.