Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Strong Trading Volume – Time to Buy?

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw unusually-high trading volume on Thursday . Approximately 94,355 shares traded hands during trading, an increase of 129% from the previous session’s volume of 41,166 shares.The stock last traded at $11.50 and had previously closed at $11.85.

Analyst Upgrades and Downgrades

CPAC has been the subject of several analyst reports. Weiss Ratings lowered shares of Cementos Pacasmayo S.A.A. from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Zacks Research raised shares of Cementos Pacasmayo S.A.A. from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen cut shares of Cementos Pacasmayo S.A.A. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Cementos Pacasmayo S.A.A. has a consensus rating of “Hold” and a consensus target price of $12.90.

Cementos Pacasmayo S.A.A. Stock Down 2.7%

The company has a market cap of $976.97 million, a price-to-earnings ratio of 18.89 and a beta of 0.73. The stock’s 50-day moving average is $11.03 and its 200-day moving average is $10.74. The company has a current ratio of 1.17, a quick ratio of 0.36 and a debt-to-equity ratio of 0.66.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last issued its earnings results on Friday, April 24th. The construction company reported $0.28 EPS for the quarter, beating 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 business had revenue of $158.94 million during the quarter, compared to analyst estimates of $146.76 million. On average, analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cementos Pacasmayo S.A.A.

A number of institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Cementos Pacasmayo S.A.A. in the 4th quarter valued at about $129,000. LPL Financial LLC bought a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at approximately $155,000. Millennium Management LLC bought a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at approximately $167,000. BNP Paribas Financial Markets increased its position in shares of Cementos Pacasmayo S.A.A. by 6.7% during the second quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock valued at $179,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Cementos Pacasmayo S.A.A. by 7.1% during the fourth 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.

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.