Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 64.4% to 7,832 shares as of September 30, representing just 0.0% of outstanding shares and a days-to-cover ratio of 0.1.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and a $13.00 target price. Scotiabank raised its target to $13.00, while Wall Street Zen upgraded the stock to “Buy.”
• CPAC shares edged up 0.1% to $12.29, near their 52-week high, after the company exceeded quarterly earnings and revenue estimates; Dimensional Fund Advisors also increased its stake by 13.4%.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 7,832 shares, a decline of 64.4% from the September 15th total of 22,030 shares. Based on an average daily volume of 81,506 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CPAC shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cementos Pacasmayo S.A.A. in a research report on Tuesday, October 6th. Scotiabank raised their price target on shares of Cementos Pacasmayo S.A.A. from $12.80 to $13.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Cementos Pacasmayo S.A.A. to a "buy" rating in a research report on Saturday, August 1st. Four investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $13.00.

Cementos Pacasmayo S.A.A. Stock Up 0.1%

Shares of Cementos Pacasmayo S.A.A. stock traded up $0.01 during trading on Monday, reaching $12.29. The company had a trading volume of 3,925 shares, compared to its average volume of 44,549. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 17.06 and a beta of 0.76. The firm's fifty day moving average is $12.22 and its 200-day moving average is $11.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.50 and a current ratio of 1.22. Cementos Pacasmayo S.A.A. has a fifty-two week low of $6.25 and a fifty-two week high of $12.74.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.12 by $0.14. The business had revenue of $163.77 million for the quarter, compared to analysts' expectations of $156.89 million. Cementos Pacasmayo S.A.A. had a net margin of 9.42% and a return on equity of 16.49%. On average, analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Cementos Pacasmayo S.A.A. stock. Dimensional Fund Advisors LP grew its position in Cementos Pacasmayo S.A.A. (NYSE:CPAC - Free Report) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,077 shares of the construction company's stock after acquiring an additional 12,323 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.12% of Cementos Pacasmayo S.A.A. worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA. is a Peru-based company engaged in the production, distribution and sale of cement and related construction materials. Its portfolio includes cement, ready-mix concrete, precast concrete products, aggregates and lime, as well as construction solutions and other materials used in residential, commercial and infrastructure projects.

Founded in 1949, the company has developed an integrated operating platform serving northern and northeastern Peru. Its operations include cement manufacturing facilities in the northern region and through its Cementos Selva business in the Amazonian region, supported by distribution and commercial networks that serve construction markets across these geographies.

Cementos Pacasmayo markets its products under brands including Pacasmayo, DINO and Cementos Selva.

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