Short Interest in Cementos Pacasmayo S.A.A. (NYSE:CPAC) Drops By 52.2%

Key Points

• Short interest in Cementos Pacasmayo dropped by 52.2% to 10,052 shares as of March 31, leaving a short-interest ratio of 0.3 days and effectively 0.0% of shares shorted.
• The company reported a quarterly loss of ($0.06) EPS, missing estimates by $0.11, while revenue of $179.83 million slightly beat expectations.
• Analyst sentiment is mixed but cautious — MarketBeat shows an average rating of Reduce with a $12.90 average price target, even as JPMorgan recently upgraded the stock to neutral and raised its target to $13.00.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 10,052 shares, a decline of 52.2% from the March 15th total of 21,040 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 35,420 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in 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 valued at $958,000 after acquiring an additional 6,054 shares during the last quarter. Benjamin Edwards Inc. bought a new position in Cementos Pacasmayo S.A.A. in the third quarter valued at approximately $522,000. BNP Paribas Financial Markets increased its stake in 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 acquiring an additional 1,900 shares during the last quarter. Millennium Management LLC bought a new position in Cementos Pacasmayo S.A.A. in the fourth quarter valued at approximately $167,000. Finally, LPL Financial LLC bought a new position in Cementos Pacasmayo S.A.A. in the fourth quarter valued at approximately $155,000.

Cementos Pacasmayo S.A.A. Price Performance

Shares of Cementos Pacasmayo S.A.A. stock opened at $10.82 on Friday. Cementos Pacasmayo S.A.A. has a twelve month low of $5.10 and a twelve month high of $11.50. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $9.12. The stock has a market capitalization of $917.55 million, a price-to-earnings ratio of 22.09 and a beta of 0.74.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) last issued its earnings results 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 firm had revenue of $179.83 million during the quarter, compared to analyst estimates of $174.95 million. Cementos Pacasmayo S.A.A. had a net margin of 7.11% and a return on equity of 11.85%. Analysts forecast that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

CPAC has been the subject of several analyst reports. Wall Street Zen cut shares of Cementos Pacasmayo S.A.A. from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. upgraded shares of Cementos Pacasmayo S.A.A. from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $7.50 to $13.00 in a research note on Wednesday, March 4th. Zacks Research cut shares of Cementos Pacasmayo S.A.A. from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 26th. Weiss Ratings cut shares of Cementos Pacasmayo S.A.A. from a "buy (b-)" rating to a "hold (c)" rating in a research note on Tuesday, February 17th. Finally, Scotiabank lifted their price objective on shares of Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a "sector perform" rating in a research note on Friday, December 19th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $12.90.

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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