Cementos Pacasmayo S.A.A. (NYSE:CPAC) Stock Passes Above 200-Day Moving Average - Here's Why

Key Points

• Cementos Pacasmayo S.A.A. shares crossed above their 200-day moving average during trading, reaching a high of $7.31 before last trading at $7.05.
• Analysts from Scotiabank have raised the target price for the stock from $6.00 to $6.40, maintaining a "sector perform" rating.
• The company reported quarterly earnings of $0.15 EPS, exceeding analyst expectations of $0.10, with a revenue of $135.89 million, compared to estimates of $132.73 million.

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.98 and traded as high as $7.31. Cementos Pacasmayo S.A.A. shares last traded at $7.05, with a volume of 10,496 shares changing hands.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their target price on 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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Cementos Pacasmayo S.A.A. presently has a consensus rating of "Hold" and an average target price of $6.40.

Cementos Pacasmayo S.A.A. Price Performance

The stock has a market capitalization of $597.63 million, a price-to-earnings ratio of 11.37 and a beta of 0.76. The company has a current ratio of 1.34, a quick ratio of 0.40 and a debt-to-equity ratio of 0.73. The stock has a 50-day simple moving average of $6.45 and a 200 day simple moving average of $5.98.

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 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.05. Cementos Pacasmayo S.A.A. had a return on equity of 16.60% and a net margin of 10.51%.The firm had revenue of $135.89 million during the quarter, compared to analyst estimates of $132.73 million. During the same period last year, the company posted $0.09 EPS. On average, equities research analysts forecast 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.

A hedge fund recently raised its stake in Cementos Pacasmayo S.A.A. stock. BNP Paribas Financial Markets raised its position in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC - Free Report) by 6.7% in the second quarter, according to its most recent 13F filing 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 as of its most recent SEC filing.

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.

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