Cementos Pacasmayo S.A.A. (NYSE:CPAC) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• CPAC shares moved above their 200-day moving average, reaching $12.39 and last trading at $12.285, compared with the $11.41 long-term average.
• Analyst sentiment remains cautious: the consensus rating is “Hold” with an average price target of $13.00, although Scotiabank raised its target to $13.00 and Wall Street Zen upgraded the stock to “Buy.”
• Cementos Pacasmayo exceeded quarterly expectations, reporting $0.26 EPS versus $0.12 expected and revenue of $163.77 million versus $156.89 million forecast.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $11.41 and traded as high as $12.39. Cementos Pacasmayo S.A.A. shares last traded at $12.2850, with a volume of 6,659 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPAC. Scotiabank lifted their price objective on shares of 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. Wall Street Zen upgraded Cementos Pacasmayo S.A.A. to a "buy" rating in a report on Saturday, August 1st. Finally, 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. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Cementos Pacasmayo S.A.A. currently has a consensus rating of "Hold" and an average price target of $13.00.

Cementos Pacasmayo S.A.A. Trading Up 0.6%

The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 17.06 and a beta of 0.76. The company has a quick ratio of 0.50, a current ratio of 1.22 and a debt-to-equity ratio of 0.59. The company's 50 day simple moving average is $12.20 and its two-hundred day simple moving average is $11.41.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.14. Cementos Pacasmayo S.A.A. had a return on equity of 16.49% and a net margin of 9.42%.The business had revenue of $163.77 million for the quarter, compared to the consensus estimate of $156.89 million. As a group, research analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Cementos Pacasmayo S.A.A. stock. Dimensional Fund Advisors LP raised its holdings in Cementos Pacasmayo S.A.A. (NYSE:CPAC - Free Report) by 13.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 104,077 shares of the construction company's stock after buying an additional 12,323 shares during the quarter. Dimensional Fund Advisors LP owned about 0.12% of Cementos Pacasmayo S.A.A. worth $1,036,000 at the end of the most recent reporting period.

Cementos Pacasmayo S.A.A. Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.