Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Large Volume Increase – Time to Buy?

Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw unusually-strong trading volume on Thursday . 61,332 shares were traded during mid-day trading, an increase of 81% from the previous session’s volume of 33,902 shares.The stock last traded at $11.8050 and had previously closed at $11.87.

Analysts Set New Price Targets

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

Cementos Pacasmayo S.A.A. Stock Down 4.9%

The firm has a market capitalization of $1.02 billion, a PE ratio of 19.80 and a beta of 0.75. The business’s 50 day simple moving average is $10.73 and its 200 day simple moving average is $10.32. The company has a current ratio of 1.17, a quick ratio of 0.36 and a debt-to-equity ratio of 0.66.

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

Institutional Investors Weigh In On Cementos Pacasmayo S.A.A.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPAC. Virtu Financial LLC bought a new stake in shares of Cementos Pacasmayo S.A.A. in the 4th quarter valued at approximately $129,000. LPL Financial LLC bought a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter valued at approximately $155,000. Millennium Management LLC purchased a new stake in Cementos Pacasmayo S.A.A. during the 4th quarter valued at $167,000. BNP Paribas Financial Markets raised its holdings in Cementos Pacasmayo S.A.A. by 6.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock valued at $179,000 after buying an additional 1,900 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cementos Pacasmayo S.A.A. by 7.1% in 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 last quarter.

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.