Cementos Pacasmayo S.A.A. (NYSE:CPAC) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.57 and traded as high as $10.56. Cementos Pacasmayo S.A.A. shares last traded at $10.4920, with a volume of 5,409 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CPAC. JPMorgan Chase & Co. upgraded Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $7.50 to $13.00 in a research report on Wednesday, March 4th. Scotiabank raised their target price on Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a “sector perform” rating in a research report on Friday, December 19th. Wall Street Zen upgraded Cementos Pacasmayo S.A.A. to a “buy” rating in a research note on Saturday, January 17th. Finally, 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. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.90.

Cementos Pacasmayo S.A.A. Stock Down 2.7%

The stock has a 50 day moving average of $10.68 and a 200-day moving average of $8.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 1.09.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last released its earnings results on Friday, February 13th. The construction company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Cementos Pacasmayo S.A.A. had a return on equity of 11.85% and a net margin of 7.11%.The firm had revenue of $166.82 million for the quarter, compared to the consensus estimate of $174.95 million. On average, sell-side analysts expect that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in Cementos Pacasmayo S.A.A. by 6.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock worth $179,000 after buying an additional 1,900 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Cementos Pacasmayo S.A.A. during the third quarter valued at about $522,000. LPL Financial LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at about $155,000. Dimensional Fund Advisors LP boosted its stake in shares of 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 worth $958,000 after acquiring an additional 6,054 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth about $167,000.

About Cementos Pacasmayo S.A.A.

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.