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

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was the target of a large drop in short interest in 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 trading volume of 14,374 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 14,374 shares, the short-interest ratio is currently 0.3 days.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the fourth quarter worth about $129,000. Millennium Management LLC purchased a new stake in Cementos Pacasmayo S.A.A. during the 4th quarter valued at approximately $167,000. Dimensional Fund Advisors LP lifted its position in Cementos Pacasmayo S.A.A. by 7.1% during the 4th 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. LPL Financial LLC acquired a new stake in 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. in the 3rd quarter valued at approximately $522,000.

Cementos Pacasmayo S.A.A. Stock Down 0.4%

NYSE CPAC traded down $0.04 on Friday, reaching $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 12-month low of $5.10 and a 12-month high of $11.50. The business’s 50-day moving average price is $10.67 and its 200 day moving average price is $8.31. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.09 and a quick ratio of 0.28.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its earnings results on Friday, February 13th. The construction company reported ($0.06) earnings per share (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 business had revenue of $166.82 million for the quarter, compared to analysts’ expectations of $174.95 million. Equities research analysts forecast that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPAC. JPMorgan Chase & Co. upped their price target on Cementos Pacasmayo S.A.A. from $6.50 to $7.50 and gave the company an “underweight” rating in a report 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 research report on Tuesday, February 17th. Wall Street Zen upgraded shares of Cementos Pacasmayo S.A.A. to a “buy” rating in a report on Saturday, January 17th. Finally, Scotiabank lifted 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 research note on Friday, December 19th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $10.15.

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.