Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Strong Trading Volume - What's Next?

Key Points

• Unusually-high trading volume: CPAC traded about 103,872 shares on Tuesday, a 308% jump from the prior session, with the stock last around $10.62 (50-day MA $10.56; 200-day MA $9.03).
• Analyst sentiment turned negative: Multiple downgrades left MarketBeat's consensus rating at "Reduce" with a consensus target price of $12.90, though some banks (Scotiabank, JPMorgan) have higher targets near $12.80–$13.00.
• Mixed quarterly results: The company missed EPS expectations (reported ($0.06) vs. est. $0.05) but beat revenue estimates ($179.8M vs. $174.95M), and has a market cap of roughly $883M and a P/E of 21.3.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 103,872 shares were traded during trading, an increase of 308% from the previous session's volume of 25,483 shares.The stock last traded at $10.6150 and had previously closed at $10.52.

Analysts Set New Price Targets

CPAC has been the subject of a number of analyst reports. 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 research report on Tuesday, February 17th. Zacks Research lowered Cementos Pacasmayo S.A.A. from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 26th. Scotiabank increased their price objective on Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a "sector perform" rating in a research report on Friday, December 19th. Finally, JPMorgan Chase & Co. upgraded Cementos Pacasmayo S.A.A. from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $7.50 to $13.00 in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $12.90.

Cementos Pacasmayo S.A.A. Stock Performance

The firm has a market capitalization of $883.01 million, a price-to-earnings ratio of 21.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a 50 day moving average price of $10.56 and a 200-day moving average price of $9.03.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The construction company reported ($0.06) earnings per share (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 analyst estimates of $174.95 million. As a group, sell-side 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 bought and sold shares of CPAC. Benjamin Edwards Inc. acquired a new position in Cementos Pacasmayo S.A.A. in the 3rd quarter valued at about $522,000. Millennium Management LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter worth $167,000. LPL Financial LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter worth $155,000. Virtu Financial LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter worth $129,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 worth $958,000 after buying an additional 6,054 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.