Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw an uptick in trading volume on Thursday . 61,332 shares were traded during mid-day trading, an increase of 81% from the previous session’s volume of 33,902 shares.The stock last traded at $11.8050 and had previously closed at $11.87.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research upgraded Cementos Pacasmayo S.A.A. from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $7.50 to $13.00 in a report on Wednesday, March 4th. Wall Street Zen cut Cementos Pacasmayo S.A.A. from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings raised Cementos Pacasmayo S.A.A. from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.90.

Cementos Pacasmayo S.A.A. Price Performance

The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 19.57 and a beta of 0.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.36 and a current ratio of 1.17. The company has a fifty day simple moving average of $10.67 and a two-hundred day simple moving average of $10.27.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last issued its quarterly earnings results on Friday, April 24th. The construction company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. Cementos Pacasmayo S.A.A. had a net margin of 8.37% and a return on equity of 14.30%. The company had revenue of $158.94 million during the quarter, compared to the consensus estimate of $146.76 million. As a group, equities research analysts expect that Cementos Pacasmayo S.A.A. will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CPAC. Millennium Management LLC acquired a new position in Cementos Pacasmayo S.A.A. during the 4th quarter worth about $167,000. LPL Financial LLC acquired a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at about $155,000. Virtu Financial LLC bought a new position in shares of Cementos Pacasmayo S.A.A. during the fourth quarter worth about $129,000. Dimensional Fund Advisors LP raised its position in shares of Cementos Pacasmayo S.A.A. by 13.4% during the first quarter. Dimensional Fund Advisors LP now owns 104,077 shares of the construction company’s stock worth $1,036,000 after acquiring an additional 12,323 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Cementos Pacasmayo S.A.A. by 6.7% in the second quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock worth $179,000 after acquiring an additional 1,900 shares during the period.

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.