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

Cementos Pacasmayo S.A.A. (NYSE:CPAC)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.24 and traded as high as $10.69. Cementos Pacasmayo S.A.A. shares last traded at $10.69, with a volume of 1,637 shares changing hands.

Analyst Ratings Changes

A number of research firms have commented on CPAC. Zacks Research upgraded shares of Cementos Pacasmayo S.A.A. from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. 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. Wall Street Zen downgraded Cementos Pacasmayo S.A.A. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, JPMorgan Chase & Co. raised Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and increased their price target for the company from $7.50 to $13.00 in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.90.

Cementos Pacasmayo S.A.A. Trading Up 1.7%

The stock has a market capitalization of $1.02 billion, a P/E ratio of 19.80 and a beta of 0.75. The firm’s 50-day simple moving average is $10.70 and its 200 day simple moving average is $10.31. The company has a quick ratio of 0.36, a current ratio of 1.17 and a debt-to-equity ratio of 0.66.

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

Institutional Trading of Cementos Pacasmayo S.A.A.

A number of hedge funds have recently bought and sold shares of CPAC. BNP Paribas Financial Markets increased its position 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cementos Pacasmayo S.A.A. by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,754 shares of the construction company’s stock valued at $958,000 after acquiring an additional 6,054 shares in the last quarter. Virtu Financial LLC acquired a new position in Cementos Pacasmayo S.A.A. in the 4th quarter worth approximately $129,000. LPL Financial LLC acquired a new position in Cementos Pacasmayo S.A.A. in the 4th quarter worth approximately $155,000. Finally, Millennium Management LLC purchased a new position in Cementos Pacasmayo S.A.A. during the 4th quarter worth approximately $167,000.

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.