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

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.97 and traded as high as $10.87. Cementos Pacasmayo S.A.A. shares last traded at $10.74, with a volume of 7,937 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CPAC. JPMorgan Chase & Co. lifted their price objective on Cementos Pacasmayo S.A.A. from $6.50 to $7.50 and gave the stock an “underweight” rating in a research report on Tuesday, November 4th. Wall Street Zen raised Cementos Pacasmayo S.A.A. to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings raised shares of Cementos Pacasmayo S.A.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Scotiabank raised their price objective 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 report on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.15.

Cementos Pacasmayo S.A.A. Trading Down 1.4%

The stock has a 50-day simple moving average of $10.10 and a 200 day simple moving average of $7.97. The company has a quick ratio of 0.49, a current ratio of 1.40 and a debt-to-equity ratio of 0.66.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in shares of Cementos Pacasmayo S.A.A. by 6.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock worth $179,000 after purchasing an additional 1,900 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 buying an additional 6,054 shares during the period. LPL Financial LLC acquired a new stake in shares of Cementos Pacasmayo S.A.A. in the fourth quarter valued at $155,000. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Cementos Pacasmayo S.A.A. in the 3rd quarter valued at $522,000.

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.