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

Cementos Pacasmayo S.A.A. (NYSE:CPAC) shares saw strong trading volume on Tuesday . 138,610 shares traded hands during 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.

Analyst Upgrades and Downgrades

CPAC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $7.50 to $13.00 in a report on Wednesday, March 4th. Wall Street Zen lowered Cementos Pacasmayo S.A.A. from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings lowered Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 17th. Zacks Research cut Cementos Pacasmayo S.A.A. from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 26th. Finally, Scotiabank boosted their price objective on 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. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $12.90.

Cementos Pacasmayo S.A.A. Stock Up 9.7%

The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average price is $10.61 and its two-hundred day moving average price is $8.90. The stock has a market capitalization of $886.19 million, a P/E ratio of 21.33 and a beta of 0.69.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last issued its quarterly earnings results on Friday, February 13th. The construction company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Cementos Pacasmayo S.A.A. had a net margin of 7.11% and a return on equity of 11.85%. The firm had revenue of $179.83 million for the quarter, compared to analysts’ expectations of $174.95 million. As a group, research analysts expect that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Cementos Pacasmayo S.A.A.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPAC. Dimensional Fund Advisors LP grew its holdings in Cementos Pacasmayo S.A.A. by 7.1% during 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. Benjamin Edwards Inc. bought a new position in Cementos Pacasmayo S.A.A. in the 3rd quarter valued at $522,000. BNP Paribas Financial Markets boosted its holdings 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 purchasing an additional 1,900 shares during the period. Millennium Management LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter valued at $167,000. Finally, LPL Financial LLC bought a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth $155,000.

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.