HSBC Initiates Coverage on Cementos Pacasmayo (CPAC)

HSBC began coverage on shares of Cementos Pacasmayo (NYSE:CPAC) in a research report report published on Wednesday, April 11th, MarketBeat Ratings reports. The brokerage issued a hold rating and a $13.00 price objective on the construction company’s stock.

Several other equities research analysts also recently commented on CPAC. Zacks Investment Research raised Cementos Pacasmayo from a hold rating to a buy rating and set a $14.00 target price for the company in a report on Tuesday, January 2nd. Bank of America raised Cementos Pacasmayo from an underperform rating to a neutral rating and set a $12.00 target price for the company in a report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Cementos Pacasmayo currently has an average rating of Hold and a consensus price target of $13.02.

How to Become a New Pot Stock Millionaire

Shares of NYSE CPAC opened at $12.05 on Wednesday. Cementos Pacasmayo has a 12 month low of $10.02 and a 12 month high of $13.49. The firm has a market cap of $1,034.24, a PE ratio of 39.35, a P/E/G ratio of 0.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.70 and a quick ratio of 0.88.

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

TRADEMARK VIOLATION WARNING: “HSBC Initiates Coverage on Cementos Pacasmayo (CPAC)” was first reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.thelincolnianonline.com/2018/04/21/cementos-pacasmayo-cpac-research-coverage-started-at-hsbc.html.

About Cementos Pacasmayo

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.

Receive News & Ratings for Cementos Pacasmayo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cementos Pacasmayo and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply