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

Key Points

• Cementos Pacasmayo’s shares rose above their 200-day moving average of $11.19, reaching $12.60 before closing at $12.54 on trading volume of 19,649 shares.
• Analysts remain broadly neutral: the consensus rating is “Hold” with a $13.00 target price, although Wall Street Zen upgraded the stock to “Buy” and Scotiabank raised its target to $13.00.
• The company beat quarterly expectations, reporting $0.26 EPS versus a $0.12 estimate and revenue of $163.77 million compared with the $156.89 million consensus.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.19 and traded as high as $12.60. Cementos Pacasmayo S.A.A. shares last traded at $12.54, with a volume of 19,649 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CPAC. Wall Street Zen upgraded Cementos Pacasmayo S.A.A. to a "buy" rating in a report on Saturday, August 1st. Scotiabank raised 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. Finally, Weiss Ratings upgraded shares of Cementos Pacasmayo S.A.A. from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Cementos Pacasmayo S.A.A. currently has a consensus rating of "Hold" and a consensus target price of $13.00.

Cementos Pacasmayo S.A.A. Trading Down 0.2%

The company has a market cap of $1.06 billion, a P/E ratio of 17.42 and a beta of 0.76. The firm's 50 day moving average is $12.02 and its two-hundred day moving average is $11.19. The company has a quick ratio of 0.50, a current ratio of 1.22 and a debt-to-equity ratio of 0.59.

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

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

A number of hedge funds have recently made changes to their positions in CPAC. Dimensional Fund Advisors LP lifted its stake in shares of Cementos Pacasmayo S.A.A. by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 91,754 shares of the construction company's stock worth $958,000 after acquiring an additional 6,054 shares during the period. BNP Paribas Financial Markets increased its position 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 valued at $179,000 after purchasing an additional 1,900 shares during the period. Millennium Management LLC acquired a new stake in Cementos Pacasmayo S.A.A. during the 4th quarter valued at approximately $167,000. LPL Financial LLC bought a new position in Cementos Pacasmayo S.A.A. during the 4th quarter worth approximately $155,000. Finally, Virtu Financial LLC bought a new position in Cementos Pacasmayo S.A.A. during the 4th quarter worth approximately $129,000.

Cementos Pacasmayo S.A.A. Company Profile

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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