Cementos Pacasmayo S.A.A. (NYSE:CPAC) Trading 5.8% Higher - Here's Why

Key Points

• Shares jumped 5.8% to $10.58 on Thursday, but trading was extremely light (375 shares versus an average of ~25,237), suggesting the move occurred on very low volume.
• Analyst views are mixed: JPMorgan upgraded CPAC to "neutral" and raised its target to $13, while several other firms cut ratings, leaving a MarketBeat consensus of "Reduce" with an average price target of $12.90.
• The company recently missed EPS expectations (reported -$0.06 vs. $0.05 est.) but beat revenue estimates; CPAC has a market cap of about $897M and a P/E of ~21.6, with its 50-day/200-day averages at $10.59 and $8.94 respectively.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report)'s stock price traded up 5.8% during trading on Thursday . The company traded as high as $10.59 and last traded at $10.58. 375 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 25,237 shares. The stock had previously closed at $10.00.

Wall Street Analysts Forecast Growth

CPAC has been the topic of several research analyst reports. JPMorgan Chase & Co. raised Cementos Pacasmayo S.A.A. from an "underweight" rating to a "neutral" rating and increased their price target for the company from $7.50 to $13.00 in a report on Wednesday, March 4th. Wall Street Zen lowered Cementos Pacasmayo S.A.A. from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Weiss Ratings cut Cementos Pacasmayo S.A.A. from a "buy (b-)" rating to a "hold (c)" rating in a research report on Tuesday, February 17th. Scotiabank raised their target price 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, Zacks Research downgraded Cementos Pacasmayo S.A.A. from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 26th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $12.90.

Cementos Pacasmayo S.A.A. Stock Performance

The business's 50-day moving average price is $10.59 and its 200-day moving average price is $8.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 1.09. The stock has a market cap of $896.87 million, a P/E ratio of 21.59 and a beta of 0.74.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last posted its quarterly earnings data on Friday, February 13th. The construction company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.11). The company had revenue of $179.83 million during the quarter, compared to analysts' expectations of $174.95 million. Cementos Pacasmayo S.A.A. had a return on equity of 11.85% and a net margin of 7.11%. 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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter valued at about $129,000. LPL Financial LLC purchased a new stake in Cementos Pacasmayo S.A.A. in the 4th quarter worth approximately $155,000. Millennium Management LLC bought a new stake in Cementos Pacasmayo S.A.A. during the 4th quarter worth approximately $167,000. BNP Paribas Financial Markets raised its stake in Cementos Pacasmayo S.A.A. by 6.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company's stock worth $179,000 after acquiring an additional 1,900 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in Cementos Pacasmayo S.A.A. during the third quarter valued at approximately $522,000.

About Cementos Pacasmayo S.A.A.

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.

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