Cementos Pacasmayo S.A.A. (CPAC) Raised to “Hold” at Zacks Investment Research
Cementos Pacasmayo S.A.A. (NYSE:CPAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Cementos Pacasmayo is a cement company engaged in the distribution and selling of cement and cement-related materials, such as concrete blocks and ready-mix concrete in the North region of Peru. The Company also produces and sells quicklime for use in mining. Cementos Pacasmayo is based in Santiago de Surco, Peru. “
CPAC has been the subject of several other reports. Scotiabank cut Cementos Pacasmayo S.A.A. from a “sector outperform” rating to a “sector perform” rating and increased their target price for the company from $11.90 to $14.10 in a research note on Saturday. BidaskClub upgraded Cementos Pacasmayo S.A.A. from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Bank of America Corporation raised their price objective on Cementos Pacasmayo S.A.A. from $9.90 to $11.00 and gave the stock an “underperform” rating in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.03.
Shares of Cementos Pacasmayo S.A.A. (CPAC) traded up 0.94% during trading on Tuesday, hitting $12.83. 545 shares of the stock were exchanged. Cementos Pacasmayo S.A.A. has a 12-month low of $8.52 and a 12-month high of $13.39. The firm has a 50 day moving average of $12.12 and a 200-day moving average of $11.39.
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An institutional investor recently raised its position in Cementos Pacasmayo S.A.A. stock. Investec Asset Management LTD increased its position in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 197.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,475 shares of the construction company’s stock after acquiring an additional 142,251 shares during the period. Investec Asset Management LTD’s holdings in Cementos Pacasmayo S.A.A. were worth $2,451,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.06% of the company’s stock.
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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