Brokerages Set $11.85 Price Target for Cementos Pacasmayo S.A.A. (CPAC)
Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) have received a consensus broker rating score of 3.50 (Sell) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a sell rating and one has assigned a hold rating to the company. Cementos Pacasmayo S.A.A.’s rating score has improved by 12.5% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus target price of $11.85 for the company, according to Zacks. Zacks has also given Cementos Pacasmayo S.A.A. an industry rank of 246 out of 265 based on the ratings given to related companies.
A number of research firms have weighed in on CPAC. Zacks Investment Research raised shares of Cementos Pacasmayo S.A.A. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Barclays raised their price objective on shares of Cementos Pacasmayo S.A.A. from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. BidaskClub lowered shares of Cementos Pacasmayo S.A.A. from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Finally, Scotiabank lowered shares of Cementos Pacasmayo S.A.A. from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the company from $11.90 to $14.10 in a research note on Saturday, September 16th.
The company also recently announced an annual dividend, which was paid on Thursday, December 7th. Stockholders of record on Wednesday, November 15th were issued a $0.539 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a dividend yield of 4.17%. This is an increase from Cementos Pacasmayo S.A.A.’s previous annual dividend of $0.43. Cementos Pacasmayo S.A.A.’s dividend payout ratio is currently 161.29%.
An institutional investor recently raised its position in Cementos Pacasmayo S.A.A. stock. Dimensional Fund Advisors LP grew its position in Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 11.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,297 shares of the construction company’s stock after purchasing an additional 8,067 shares during the period. Dimensional Fund Advisors LP’s holdings in Cementos Pacasmayo S.A.A. were worth $872,000 at the end of the most recent reporting period. Institutional investors own 4.43% of the company’s stock.
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Cementos Pacasmayo S.A.A. Company Profile
Pacasmayo Cement Corp, formerly Cementos Pacasmayo SAA, is a Peru-based company principally engaged in the production, distribution and sale of construction materials. The Company is active in the development of traditional and blended cement, ready-mix concrete, mortars, quicklime, concrete blocks, diatomite bricks and aggregates, among others.
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