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

Key Points

• Cementos Pacasmayo S.A.A. shares recently crossed above their 200-day moving average, reaching a trading high of $7.27 compared to the average of $6.09.
• Analysts have given the stock a "hold" rating with an average price target of $6.40, reflecting cautious optimism about its performance.
• The company reported earnings of $0.15 per share for the latest quarter, exceeding expectations and showcasing a net margin of 10.51% and a return on equity of 16.60%.

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.09 and traded as high as $7.27. Cementos Pacasmayo S.A.A. shares last traded at $7.20, with a volume of 4,847 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Cementos Pacasmayo S.A.A. in a research report on Wednesday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.40.

Cementos Pacasmayo S.A.A. Stock Up 0.8%

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 company has a market capitalization of $609.95 million, a price-to-earnings ratio of 11.60 and a beta of 0.77. The firm's 50 day simple moving average is $6.65 and its 200-day simple moving average is $6.09.

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 the consensus estimate of $0.10 by $0.05. The company had revenue of $135.89 million for 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 period in the previous year, the company posted $0.09 EPS. On average, sell-side analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current fiscal year.

Hedge Funds 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 lifted its stake in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC - Free Report) by 6.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,110 shares of the construction company's stock after purchasing an additional 1,900 shares during the quarter. 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.

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.