Cementos Pacasmayo S.A.A. (NYSE:CPAC) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cementos Pacasmayo to “buy,” although the broader analyst consensus remains “hold” with a $13.00 price target.
• The company exceeded quarterly expectations, reporting $0.26 in earnings per share versus the $0.12 consensus estimate and revenue of $163.77 million versus $156.89 million expected.
• CPAC shares opened at $11.79, near their 52-week high of $12.70, while institutional investors—including Dimensional Fund Advisors and BNP Paribas Financial Markets—recently increased their positions.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently commented on the company. Zacks Research upgraded Cementos Pacasmayo S.A.A. from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Weiss Ratings raised Cementos Pacasmayo S.A.A. from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Finally, Scotiabank lifted their target price on Cementos Pacasmayo S.A.A. from $12.80 to $13.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Four research analysts have 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 price target of $13.00.

Cementos Pacasmayo S.A.A. Price Performance

Cementos Pacasmayo S.A.A. stock opened at $11.79 on Friday. Cementos Pacasmayo S.A.A. has a 1 year low of $6.01 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.50 and a current ratio of 1.22. The firm has a 50 day moving average price of $11.42 and a 200 day moving average price of $10.90. The company has a market cap of $999.91 million, a price-to-earnings ratio of 16.38 and a beta of 0.73.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The construction company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.14. The company had revenue of $163.77 million for the quarter, compared to the consensus estimate of $156.89 million. Cementos Pacasmayo S.A.A. had a net margin of 9.42% and a return on equity of 16.49%. Sell-side analysts predict that Cementos Pacasmayo S.A.A. will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Cementos Pacasmayo S.A.A.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Cementos Pacasmayo S.A.A. by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 104,077 shares of the construction company's stock valued at $1,036,000 after purchasing an additional 12,323 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Cementos Pacasmayo S.A.A. during the fourth quarter worth about $129,000. Millennium Management LLC purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth about $167,000. LPL Financial LLC purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth about $155,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Cementos Pacasmayo S.A.A. by 6.7% in the second quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company's stock valued at $179,000 after buying an additional 1,900 shares in the last quarter.

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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