Cementos Pacasmayo S.A.A. (NYSE:CPAC) Share Price Passes Above 200 Day Moving Average – Here’s Why

Cementos Pacasmayo S.A.A. (NYSE:CPAC)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.69 and traded as high as $11.92. Cementos Pacasmayo S.A.A. shares last traded at $11.9050, with a volume of 2,272 shares traded.

Analyst Ratings Changes

CPAC has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Cementos Pacasmayo S.A.A. from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Zacks Research upgraded shares of Cementos Pacasmayo S.A.A. from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut Cementos Pacasmayo S.A.A. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.90.

Cementos Pacasmayo S.A.A. Stock Down 0.1%

The company’s 50 day simple moving average is $10.96 and its 200-day simple moving average is $10.69. 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 $1.01 billion, a P/E ratio of 19.52 and a beta of 0.73.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its quarterly earnings results on Friday, April 24th. The construction company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. The firm had revenue of $158.94 million during the quarter, compared to analyst estimates of $146.76 million. Cementos Pacasmayo S.A.A. had a net margin of 8.37% and a return on equity of 14.30%. Research analysts forecast that Cementos Pacasmayo S.A.A. will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cementos Pacasmayo S.A.A.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Cementos Pacasmayo S.A.A. by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 104,077 shares of the construction company’s stock worth $1,036,000 after acquiring an additional 12,323 shares during the period. BNP Paribas Financial Markets lifted its holdings in Cementos Pacasmayo S.A.A. by 6.7% in the second quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock valued at $179,000 after acquiring an additional 1,900 shares during the period. Millennium Management LLC purchased a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth about $167,000. LPL Financial LLC purchased a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth about $155,000. Finally, Virtu Financial LLC purchased a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth about $129,000.

About Cementos Pacasmayo S.A.A.

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.