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.

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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.

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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.

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