Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Large Growth in Short Interest

Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 26,746 shares, a growth of 121.5% from the April 30th total of 12,077 shares. Based on an average trading volume of 17,718 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.0% of the company’s shares are sold short.

Cementos Pacasmayo S.A.A. Trading Down 1.3%

Shares of NYSE:CPAC traded down $0.14 during trading hours on Friday, hitting $10.49. 42,410 shares of the company’s stock traded hands, compared to its average volume of 17,046. Cementos Pacasmayo S.A.A. has a 1 year low of $5.66 and a 1 year high of $11.50. The business has a fifty day moving average price of $10.56 and a 200-day moving average price of $9.92. The firm has a market capitalization of $888.86 million, a P/E ratio of 17.19 and a beta of 0.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 0.36.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its earnings results on Friday, April 24th. The construction company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $146.77 million. Equities analysts expect that Cementos Pacasmayo S.A.A. will post 0.91 earnings per share for the current year.

Institutional Trading of Cementos Pacasmayo S.A.A.

A number of large investors have recently modified their holdings of CPAC. Millennium Management LLC purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at approximately $167,000. LPL Financial LLC purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at approximately $155,000. Virtu Financial LLC purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at approximately $129,000. Dimensional Fund Advisors LP boosted its holdings in shares of Cementos Pacasmayo S.A.A. by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 104,077 shares of the construction company’s stock valued at $1,036,000 after purchasing an additional 12,323 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of 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 purchasing an additional 1,900 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on CPAC. 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. JPMorgan Chase & Co. raised Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $7.50 to $13.00 in a research note on Wednesday, March 4th. Zacks Research raised 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 raised Cementos Pacasmayo S.A.A. from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.90.

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.