Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Strong Trading Volume - Here's Why

Key Points

• Trading spike: Shares jumped to 84,545 traded mid-day (a 153% increase from the prior session) and last traded at $10.86, up about 0.9% from the prior close.
• Analyst mix but negative consensus: JPMorgan upgraded CPAC to "neutral" and raised its price target to $13, but multiple downgrades left the MarketBeat consensus at "Reduce" with an average price target of $12.90.
• Earnings showed a quarterly EPS miss (‑$0.06 vs. $0.05 expected) despite a revenue beat of $179.8M, and several institutional investors (e.g., Dimensional, BNP Paribas, Millennium) have recently increased or initiated positions in the stock.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) shares saw strong trading volume on Tuesday . 84,545 shares were traded during mid-day trading, an increase of 153% from the previous session's volume of 33,411 shares.The stock last traded at $10.86 and had previously closed at $10.76.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPAC. JPMorgan Chase & Co. upgraded Cementos Pacasmayo S.A.A. from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $7.50 to $13.00 in a research note on Wednesday, March 4th. Wall Street Zen cut Cementos Pacasmayo S.A.A. from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. 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. Finally, Zacks Research lowered shares of Cementos Pacasmayo S.A.A. from a "hold" rating to a "strong sell" rating in a report on Thursday, March 26th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cementos Pacasmayo S.A.A. currently has a consensus rating of "Reduce" and an average price target of $12.90.

Cementos Pacasmayo S.A.A. Trading Up 0.9%

The stock has a market capitalization of $920.60 million, a PE ratio of 22.16 and a beta of 0.74. 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 business's 50-day moving average is $10.53 and its two-hundred day moving average is $9.29.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last released its quarterly earnings data on Friday, February 13th. The construction company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 company had revenue of $179.83 million during the quarter, compared to analysts' expectations of $174.95 million. On average, analysts predict that Cementos Pacasmayo S.A.A. will post 0.47 earnings per share for the current year.

Hedge Funds Weigh In On Cementos Pacasmayo S.A.A.

A number of institutional investors and hedge funds have recently bought and sold shares of CPAC. BNP Paribas Financial Markets lifted 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 worth $179,000 after buying an additional 1,900 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cementos Pacasmayo S.A.A. by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 91,754 shares of the construction company's stock worth $958,000 after acquiring an additional 6,054 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth about $129,000. LPL Financial LLC acquired a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth about $155,000. Finally, Millennium Management LLC purchased a new position in Cementos Pacasmayo S.A.A. in the fourth quarter valued at about $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.

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