Zacks Investment Research upgraded shares of Cementos Pacasmayo (NYSE:CPAC) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.
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. “
Separately, JPMorgan Chase & Co. cut Cementos Pacasmayo from a neutral rating to an underweight rating and lowered their price objective for the stock from $9.00 to $8.50 in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $9.00.
Shares of Cementos Pacasmayo stock opened at $9.23 on Wednesday. The business has a fifty day simple moving average of $9.29 and a two-hundred day simple moving average of $8.93. Cementos Pacasmayo has a 1 year low of $8.00 and a 1 year high of $10.67. The company has a market capitalization of $782.80 million, a price-to-earnings ratio of 24.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.90 and a quick ratio of 1.01.
Cementos Pacasmayo (NYSE:CPAC) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Cementos Pacasmayo had a net margin of 6.71% and a return on equity of 8.08%. The business had revenue of $114.35 million for the quarter, compared to analyst estimates of $104.61 million. As a group, equities analysts anticipate that Cementos Pacasmayo will post 0.45 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Cementos Pacasmayo stock. Aperio Group LLC acquired a new position in shares of Cementos Pacasmayo ADR (NYSE:CPAC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,161 shares of the construction company’s stock, valued at approximately $28,000. 3.98% of the stock is owned by institutional investors and hedge funds.
Cementos Pacasmayo Company Profile
Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in the northern region of Peru. The company operates in three segments: Cement, Concrete and Blocks; Quicklime; and Sales of Construction Supplies. It produces cement for various uses, such as residential and commercial construction, and civil engineering; ready-mix concrete used in large construction sites; concrete blocks, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete blocks for structural and non-structural uses; and cement based products, including assembly gravity walls, beams and vaults, precast beams, sheet piles, seawalls, and piles, as well as bathroom and housing units.
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