Cementos Pacasmayo S.A.A. (NYSE:CPAC) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “Cementos Pacasmayo is a cement company engaged in the distribution and selling of cement and cement-related materials, such as concrete blocks and ready-mix concrete in the North region of Peru. The Company also produces and sells quicklime for use in mining. Cementos Pacasmayo is based in Santiago de Surco, Peru. “
Other analysts have also issued reports about the company. Bank of America Corporation boosted their price objective on Cementos Pacasmayo S.A.A. from $9.90 to $11.00 and gave the company an underperform rating in a research note on Friday, July 21st. BidaskClub lowered Cementos Pacasmayo S.A.A. from a hold rating to a sell rating in a research note on Thursday, July 20th. Finally, Barclays PLC reiterated a hold rating and set a $11.00 price objective on shares of Cementos Pacasmayo S.A.A. in a research note on Friday, April 28th.
Shares of Cementos Pacasmayo S.A.A. (CPAC) traded up 0.71% on Tuesday, reaching $11.38. The company’s stock had a trading volume of 557 shares. The firm’s 50 day moving average is $11.48 and its 200-day moving average is $10.72. Cementos Pacasmayo S.A.A. has a 52-week low of $8.52 and a 52-week high of $12.00.
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An institutional investor recently raised its position in Cementos Pacasmayo S.A.A. stock. Renaissance Technologies LLC increased its position in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 25.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,597 shares of the construction company’s stock after buying an additional 5,997 shares during the period. Renaissance Technologies LLC’s holdings in Cementos Pacasmayo S.A.A. were worth $273,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 4.35% of the company’s stock.
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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