Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Large Drop in Short Interest

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was the recipient of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 4,282 shares, a drop of 43.2% from the January 29th total of 7,537 shares. Based on an average daily volume of 14,374 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 14,374 shares, the days-to-cover ratio is currently 0.3 days.

Cementos Pacasmayo S.A.A. Price Performance

NYSE CPAC traded down $0.04 during mid-day trading on Friday, hitting $10.61. The stock had a trading volume of 6,266 shares, compared to its average volume of 17,258. Cementos Pacasmayo S.A.A. has a 52-week low of $5.10 and a 52-week high of $11.50. The company has a 50 day simple moving average of $10.67 and a 200 day simple moving average of $8.31. 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 posted 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). The firm had revenue of $166.82 million for the quarter, compared to analysts’ expectations of $174.95 million. Cementos Pacasmayo S.A.A. had a return on equity of 11.85% and a net margin of 7.11%. On average, equities research analysts predict that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CPAC. JPMorgan Chase & Co. boosted their price objective on shares of Cementos Pacasmayo S.A.A. from $6.50 to $7.50 and gave the company an “underweight” rating in a research note on Tuesday, November 4th. Weiss Ratings downgraded shares of Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of Cementos Pacasmayo S.A.A. to a “buy” rating in a research note on Saturday, January 17th. Finally, Scotiabank increased their price target on shares of Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a “sector perform” rating in a report on Friday, December 19th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cementos Pacasmayo S.A.A. presently has a consensus rating of “Reduce” and a consensus price target of $10.15.

Institutional Investors Weigh In On Cementos Pacasmayo S.A.A.

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Cementos Pacasmayo S.A.A. during the 4th quarter valued at about $129,000. Millennium Management LLC purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at about $167,000. Dimensional Fund Advisors LP grew its position 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 valued at $958,000 after purchasing an additional 6,054 shares during the last quarter. LPL Financial LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter worth approximately $155,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 3rd quarter worth approximately $522,000.

Cementos Pacasmayo S.A.A. Company Profile

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.