Cementos Pacasmayo S.A.A. (CPAC) Rating Lowered to Sector Perform at Scotiabank
Cementos Pacasmayo S.A.A. (NYSE:CPAC) was downgraded by analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a report released on Saturday. They currently have a $14.10 price target on the construction company’s stock, up from their prior price target of $11.90. Scotiabank’s price target suggests a potential upside of 9.22% from the stock’s current price.
CPAC has been the subject of a number of other reports. BidaskClub upgraded Cementos Pacasmayo S.A.A. from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut Cementos Pacasmayo S.A.A. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Bank of America Corporation boosted their price target on Cementos Pacasmayo S.A.A. from $9.90 to $11.00 and gave the stock an “underperform” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.03.
Shares of Cementos Pacasmayo S.A.A. (CPAC) opened at 12.91 on Friday. Cementos Pacasmayo S.A.A. has a 52 week low of $8.52 and a 52 week high of $13.39. The company has a 50-day moving average of $12.08 and a 200-day moving average of $11.34.
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An institutional investor recently raised its position in Cementos Pacasmayo S.A.A. stock. Dimensional Fund Advisors LP increased its holdings in Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 11.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,297 shares of the construction company’s stock after purchasing an additional 8,067 shares during the period. Dimensional Fund Advisors LP’s holdings in Cementos Pacasmayo S.A.A. were worth $872,000 as of its most recent SEC filing. 1.06% of the stock is owned by hedge funds and other institutional investors.
Cementos Pacasmayo S.A.A. Company Profile
Pacasmayo Cement Corp, formerly Cementos Pacasmayo SAA, is a Peru-based company principally engaged in the production, distribution and sale of construction materials. The Company is active in the development of traditional and blended cement, ready-mix concrete, mortars, quicklime, concrete blocks, diatomite bricks and aggregates, among others.
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