Cementos Pacasmayo S.A.A. (NYSE:CPAC) Short Interest Up 123.4% in August

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 43,731 shares, a growth of 123.4% from the August 15th total of 19,572 shares. Based on an average daily volume of 41,499 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Trading of Cementos Pacasmayo S.A.A.

A hedge fund recently raised its stake in Cementos Pacasmayo S.A.A. stock. Dimensional Fund Advisors LP raised its stake in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,077 shares of the construction company’s stock after purchasing an additional 12,323 shares during the period. Dimensional Fund Advisors LP owned 0.12% of Cementos Pacasmayo S.A.A. worth $1,036,000 at the end of the most recent quarter.

Cementos Pacasmayo S.A.A. Price Performance

Shares of CPAC traded up $0.08 during mid-day trading on Tuesday, reaching $12.60. The company had a trading volume of 10,762 shares, compared to its average volume of 43,667. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 17.51 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.50 and a current ratio of 1.22. The company’s 50 day simple moving average is $12.03 and its 200 day simple moving average is $11.21. Cementos Pacasmayo S.A.A. has a 1-year low of $6.25 and a 1-year high of $12.74.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last posted its earnings results on Tuesday, July 21st. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.12 by $0.14. Cementos Pacasmayo S.A.A. had a return on equity of 16.49% and a net margin of 9.42%.The firm had revenue of $163.77 million during the quarter, compared to the consensus estimate of $156.89 million. Analysts expect that Cementos Pacasmayo S.A.A. will post 0.91 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on CPAC. Scotiabank raised their target price on shares of Cementos Pacasmayo S.A.A. from $12.80 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Cementos Pacasmayo S.A.A. to a “buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Cementos Pacasmayo S.A.A. from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Cementos Pacasmayo S.A.A. currently has an average rating of “Hold” and a consensus target price of $13.00.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA. is a Peru-based company engaged in the production, distribution and sale of cement and related construction materials. Its product portfolio includes cement, ready-mix concrete, mortar, concrete products, aggregates and quicklime, serving residential, commercial, industrial and infrastructure construction markets.

Founded in 1949, the company primarily serves northern and northeastern Peru through an integrated network of manufacturing plants, distribution facilities and sales channels.