Cementos Pacasmayo S.A.A. (NYSE:CPAC) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

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 stock 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 traded.

Wall Street Analysts Forecast Growth

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

Cementos Pacasmayo S.A.A. Trading Down 2.7%

The firm has a market capitalization of $559.51 million, a price-to-earnings ratio of 10.65 and a beta of 0.76. The firm's 50 day moving average is $6.33 and its 200 day moving average is $5.92. The company has a quick ratio of 0.40, a current ratio of 1.34 and a debt-to-equity ratio of 0.73.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last released its earnings results on Monday, July 21st. The construction company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $135.89 million during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.09 earnings per share. Equities analysts forecast that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current 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 lifted its position in Cementos Pacasmayo S.A.A. (NYSE:CPAC - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,110 shares of the construction company's stock after acquiring an additional 1,900 shares during the quarter. BNP Paribas Financial Markets' holdings in Cementos Pacasmayo S.A.A. were worth $179,000 as of its most recent filing with the SEC.

Cementos Pacasmayo S.A.A. Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.