Cementos Pacasmayo (NYSE:CPAC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cementos Pacasmayo (NYSE:CPAC) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. The firm currently has $9.50 price objective on the construction company’s stock.

According to Zacks, “Cementos Pacasmayo is a cement company engaged in the distribution and selling of cement and cement-related materials, such as concrete blocks and ready-mix concrete in the North region of Peru. The Company also produces and sells quicklime for use in mining. Cementos Pacasmayo is based in Santiago de Surco, Peru. “

CPAC has been the subject of a number of other reports. ValuEngine downgraded Cementos Pacasmayo from a hold rating to a sell rating in a report on Monday, July 29th. UBS Group upgraded Cementos Pacasmayo from a neutral rating to a buy rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $11.25.

Shares of CPAC stock remained flat at $$8.51 on Thursday. The stock had a trading volume of 1 shares, compared to its average volume of 5,314. The stock has a market cap of $712.10 million, a PE ratio of 23.00 and a beta of 0.82. The company has a current ratio of 2.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average price is $8.54 and its 200 day moving average price is $9.06. Cementos Pacasmayo has a 1-year low of $8.00 and a 1-year high of $11.60.

Cementos Pacasmayo (NYSE:CPAC) last released its quarterly earnings data on Wednesday, July 17th. The construction company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $96.91 million during the quarter, compared to the consensus estimate of $92.25 million. Cementos Pacasmayo had a return on equity of 7.79% and a net margin of 6.54%. As a group, equities analysts forecast that Cementos Pacasmayo will post 0.51 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Cementos Pacasmayo stock. Aperio Group LLC purchased a new stake in Cementos Pacasmayo ADR (NYSE:CPAC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,161 shares of the construction company’s stock, valued at approximately $28,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

About Cementos Pacasmayo

Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in the northern region of Peru. The company 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; 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; and cement based products, including assembly gravity walls, beams and vaults, precast beams, sheet piles, seawalls, and piles, as well as bathroom and housing units.

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