Cementos Pacasmayo S.A.A. (NYSE:CPAC) Shares Shorted: Short Interest Down 64.4% in September

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 7,832 shares, a drop of 64.4% from the September 15th total of 22,030 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 81,506 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cementos Pacasmayo S.A.A. stock. Dimensional Fund Advisors LP boosted its holdings in Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 13.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,077 shares of the construction company’s stock after acquiring an additional 12,323 shares during the period. Dimensional Fund Advisors LP owned 0.12% of Cementos Pacasmayo S.A.A. worth $1,036,000 at the end of the most recent reporting period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cementos Pacasmayo S.A.A. in a research note on Tuesday, October 6th. Wall Street Zen raised shares of Cementos Pacasmayo S.A.A. to a “buy” rating in a research note on Saturday, August 1st. Finally, Scotiabank boosted their target price on shares of Cementos Pacasmayo S.A.A. from $12.80 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.00.

Cementos Pacasmayo S.A.A. Price Performance

Shares of Cementos Pacasmayo S.A.A. stock traded up $0.02 on Tuesday, reaching $12.29. The company’s stock had a trading volume of 27,835 shares, compared to its average volume of 44,501. The company has a quick ratio of 0.50, a current ratio of 1.22 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $12.24 and a 200-day moving average price of $11.49. The company has a market capitalization of $1.04 billion, a P/E ratio of 17.06 and a beta of 0.76. Cementos Pacasmayo S.A.A. has a 52-week low of $6.25 and a 52-week high of $12.74.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.14. Cementos Pacasmayo S.A.A. had a net margin of 9.42% and a return on equity of 16.49%. The business had revenue of $163.77 million for the quarter, compared to the consensus estimate of $156.89 million. Analysts expect that Cementos Pacasmayo S.A.A. will post 0.91 EPS for the current year.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA. is a Peru-based company engaged in the production, distribution and sale of cement and related construction materials. Its portfolio includes cement, ready-mix concrete, precast concrete products, aggregates and lime, as well as construction solutions and other materials used in residential, commercial and infrastructure projects.

Founded in 1949, the company has developed an integrated operating platform serving northern and northeastern Peru. Its operations include cement manufacturing facilities in the northern region and through its Cementos Selva business in the Amazonian region, supported by distribution and commercial networks that serve construction markets across these geographies.

Cementos Pacasmayo markets its products under brands including Pacasmayo, DINO and Cementos Selva.