Cementos Pacasmayo S.A.A. (NYSE:CPAC) Short Interest Up 101.5% in March

Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 21,040 shares, an increase of 101.5% from the February 26th total of 10,442 shares. Based on an average daily trading volume, of 17,910 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.0% of the company’s stock are short sold.

Cementos Pacasmayo S.A.A. Stock Performance

Cementos Pacasmayo S.A.A. stock traded down $0.02 on Friday, reaching $10.18. 4,558 shares of the stock were exchanged, compared to its average volume of 16,647. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. Cementos Pacasmayo S.A.A. has a twelve month low of $5.10 and a twelve month high of $11.50. The firm has a fifty day moving average price of $10.62 and a two-hundred day moving average price of $8.85. The stock has a market cap of $863.21 million, a PE ratio of 20.78 and a beta of 0.69.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its earnings results on Friday, February 13th. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Cementos Pacasmayo S.A.A. had a return on equity of 11.85% and a net margin of 7.11%.The company had revenue of $179.83 million for the quarter, compared to the consensus estimate of $174.95 million. Sell-side analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in Cementos Pacasmayo S.A.A. in the fourth quarter valued at $129,000. LPL Financial LLC acquired a new stake in shares of Cementos Pacasmayo S.A.A. during the 4th quarter worth about $155,000. Millennium Management LLC acquired a new stake in shares of Cementos Pacasmayo S.A.A. during the 4th quarter worth about $167,000. BNP Paribas Financial Markets lifted 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 purchasing an additional 1,900 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new position in Cementos Pacasmayo S.A.A. during the 3rd quarter valued at about $522,000.

Analysts Set New Price Targets

CPAC has been the topic of several research analyst reports. Wall Street Zen cut shares of Cementos Pacasmayo S.A.A. from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. JPMorgan Chase & Co. raised Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $7.50 to $13.00 in a research report on Wednesday, March 4th. Weiss Ratings downgraded Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Tuesday, February 17th. Zacks Research lowered Cementos Pacasmayo S.A.A. from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, Scotiabank raised their price target on Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a “sector perform” rating in a research note on Friday, December 19th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $12.90.

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.