Cementos Pacasmayo S.A.A. (NYSE:CPAC) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Cementos Pacasmayo S.A.A. shares recently crossed above their 200-day moving average, reaching a high of $6.78 before closing at $6.60.
• Wall Street analysts at Scotiabank have upgraded the company’s target price from $6.00 to $6.40, maintaining a "sector perform" rating.
• The company reported a quarterly EPS of $0.15, exceeding expectations, with revenues of $135.89 million compared to estimates of $132.73 million.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.92 and traded as high as $6.78. Cementos Pacasmayo S.A.A. shares last traded at $6.60, with a volume of 6,307 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Scotiabank upped their price target on shares of Cementos Pacasmayo S.A.A. from $6.00 to $6.40 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.40.

Cementos Pacasmayo S.A.A. Stock Performance

The firm has a 50 day moving average of $6.37 and a two-hundred day moving average of $5.94. The stock has a market cap of $604.41 million, a P/E ratio of 11.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.40 and a current ratio of 1.34.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The construction company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.05. The company had revenue of $135.89 million during the quarter, compared to analysts' expectations of $132.73 million. Cementos Pacasmayo S.A.A. had a net margin of 10.51% and a return on equity of 16.60%. During the same quarter in the prior year, the company posted $0.09 EPS. On average, research analysts predict that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Cementos Pacasmayo S.A.A.

An institutional investor recently raised its position in Cementos Pacasmayo S.A.A. stock. BNP Paribas Financial Markets grew its position in Cementos Pacasmayo S.A.A. (NYSE:CPAC - Free Report) by 6.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,110 shares of the construction company's stock after purchasing an additional 1,900 shares during the period. BNP Paribas Financial Markets' holdings in Cementos Pacasmayo S.A.A. were worth $179,000 at the end of the most recent quarter.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in Peru. It operates through three segments: Cement, Concrete, Mortar and Precast; Quicklime; and Sales of Construction Supplies. The company's cement and concrete products are used in residential and commercial construction, and civil engineering; ready-mix concrete used in construction sites; concrete precast, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete precast for structural and non-structural uses; and cement-based products.