Cementos Pacasmayo S.A.A. (NYSE:CPAC) Lowered to Strong Sell Rating by Zacks Research

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on CPAC. Wall Street Zen cut shares of Cementos Pacasmayo S.A.A. from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Scotiabank raised their target price on Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a “sector perform” rating in a report on Friday, December 19th. Weiss Ratings lowered Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. upgraded Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $7.50 to $13.00 in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $12.90.

Cementos Pacasmayo S.A.A. Price Performance

NYSE CPAC opened at $10.18 on Thursday. The company has a 50-day moving average price of $10.62 and a 200-day moving average price of $8.85. Cementos Pacasmayo S.A.A. has a 52 week low of $5.10 and a 52 week high of $11.50. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $863.21 million, a P/E ratio of 20.78 and a beta of 0.69.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last posted its quarterly earnings data 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). The business had revenue of $179.83 million during the quarter, compared to analysts’ expectations of $174.95 million. Cementos Pacasmayo S.A.A. had a return on equity of 11.85% and a net margin of 7.11%. Equities research analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in Cementos Pacasmayo S.A.A. by 6.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock worth $179,000 after buying 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 fourth 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 purchased a new position in shares of Cementos Pacasmayo S.A.A. in the fourth 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 worth about $155,000. Finally, Millennium Management LLC bought a new position in shares of Cementos Pacasmayo S.A.A. in the fourth quarter worth about $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.