Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Significant Increase in Short Interest

Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 26,746 shares, a growth of 121.5% from the April 30th total of 12,077 shares. Based on an average trading volume of 17,718 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.0% of the company’s shares are sold short.

Cementos Pacasmayo S.A.A. Trading Up 0.7%

Shares of NYSE CPAC traded up $0.07 during trading hours on Monday, reaching $10.59. The stock had a trading volume of 9,674 shares, compared to its average volume of 18,803. The company has a current ratio of 1.17, a quick ratio of 0.36 and a debt-to-equity ratio of 0.66. The firm has a market cap of $897.71 million, a price-to-earnings ratio of 17.36 and a beta of 0.75. The business’s fifty day moving average price is $10.58 and its two-hundred day moving average price is $9.96. Cementos Pacasmayo S.A.A. has a 52-week low of $5.66 and a 52-week high of $11.50.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its quarterly earnings results on Friday, April 24th. The construction company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.17. The firm had revenue of $158.95 million during the quarter, compared to analyst estimates of $146.77 million. Cementos Pacasmayo S.A.A. had a return on equity of 14.30% and a net margin of 8.37%. Analysts expect that Cementos Pacasmayo S.A.A. will post 0.91 EPS for the current fiscal year.

Institutional Trading of Cementos Pacasmayo S.A.A.

Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Cementos Pacasmayo S.A.A. during the fourth quarter worth $129,000. LPL Financial LLC purchased a new stake in Cementos Pacasmayo S.A.A. during the fourth quarter worth $155,000. Millennium Management LLC purchased a new stake in Cementos Pacasmayo S.A.A. during the fourth quarter worth $167,000. BNP Paribas Financial Markets lifted its holdings in Cementos Pacasmayo S.A.A. by 6.7% during the second 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 during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in 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.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CPAC shares. Wall Street Zen cut Cementos Pacasmayo S.A.A. from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Zacks Research raised Cementos Pacasmayo S.A.A. from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $7.50 to $13.00 in a research note on Wednesday, March 4th. Finally, Weiss Ratings raised Cementos Pacasmayo S.A.A. from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.90.

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.