Cementos Pacasmayo S.A.A. (NYSE:CPAC) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Cementos Pacasmayo S.A.A. (NYSE:CPAC)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.57 and traded as high as $10.56. Cementos Pacasmayo S.A.A. shares last traded at $10.4920, with a volume of 5,409 shares traded.

Analyst Ratings Changes

CPAC has been the subject of several recent analyst reports. Scotiabank increased 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 report on Friday, December 19th. Weiss Ratings cut Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. upgraded 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 research report on Wednesday, March 4th. Finally, Wall Street Zen raised Cementos Pacasmayo S.A.A. to a “buy” rating in a research note on Saturday, January 17th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.90.

Cementos Pacasmayo S.A.A. Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 1.09. The business has a 50-day moving average price of $10.69 and a 200 day moving average price of $8.57.

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). The company had revenue of $166.82 million during the quarter, compared to analyst estimates of $174.95 million. Cementos Pacasmayo S.A.A. had a return on equity of 11.85% and a net margin of 7.11%. On average, equities research analysts expect that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current year.

Institutional Trading of Cementos Pacasmayo S.A.A.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position 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 worth $179,000 after buying an additional 1,900 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 in the last quarter. Virtu Financial LLC acquired a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth approximately $129,000. LPL Financial LLC bought a new position in Cementos Pacasmayo S.A.A. during the fourth quarter valued at approximately $155,000. Finally, Millennium Management LLC bought a new position in Cementos Pacasmayo S.A.A. during the fourth quarter valued at 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.