Cementos Pacasmayo (CPAC) Research Coverage Started at HSBC

HSBC assumed coverage on shares of Cementos Pacasmayo (NYSE:CPAC) in a research report released on Wednesday, Marketbeat reports. The brokerage issued a hold rating and a $13.00 price objective on the construction company’s stock.

A number of other brokerages have also recently issued reports on CPAC. Zacks Investment Research cut Cementos Pacasmayo from a buy rating to a hold rating in a report on Monday, February 5th. Bank of America raised Cementos Pacasmayo from an underperform rating to a neutral rating and set a $12.00 price objective on the stock in a report on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of Hold and an average price target of $13.02.

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Shares of CPAC opened at $12.04 on Wednesday. The stock has a market cap of $1,038.48, a P/E ratio of 39.52, a P/E/G ratio of 0.75 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 2.70. Cementos Pacasmayo has a 52-week low of $10.02 and a 52-week high of $13.49.

A number of institutional investors and hedge funds have recently modified their holdings of CPAC. Renaissance Technologies LLC purchased a new stake in Cementos Pacasmayo during the 4th quarter worth about $160,000. Investec Asset Management LTD lifted its holdings in Cementos Pacasmayo by 15.0% during the 4th quarter. Investec Asset Management LTD now owns 305,939 shares of the construction company’s stock worth $3,794,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Compass Group LLC bought a new position in Cementos Pacasmayo in the 4th quarter worth about $4,702,000. 4.87% of the stock is currently owned by institutional investors and hedge funds.

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Cementos Pacasmayo Company Profile

Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in the northern region of Peru. It operates in three segments: Cement, Concrete and Blocks; Quicklime; and Sales of Construction Supplies. It produces cement for various uses, such as residential and commercial construction, and civil engineering; ready-mix concrete used in large construction sites; and concrete blocks, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete blocks for structural and non-structural uses.

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