Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Significant Increase in Short Interest

Cementos Pacasmayo S.A.A. (NYSE:CPACGet Free Report) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 43,731 shares, an increase of 123.4% from the August 15th total of 19,572 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 41,499 shares, the days-to-cover ratio is presently 1.1 days.

Cementos Pacasmayo S.A.A. Price Performance

NYSE CPAC traded down $0.05 on Monday, reaching $12.49. The company had a trading volume of 2,814 shares, compared to its average volume of 43,537. The stock has a market capitalization of $1.06 billion, a PE ratio of 17.35 and a beta of 0.76. Cementos Pacasmayo S.A.A. has a 12 month low of $6.25 and a 12 month high of $12.74. The company has a quick ratio of 0.50, a current ratio of 1.22 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average price is $12.02 and its 200 day moving average price is $11.20.

Cementos Pacasmayo S.A.A. (NYSE:CPACGet Free Report) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.12 by $0.14. The business had revenue of $163.77 million during the quarter, compared to the consensus estimate of $156.89 million. Cementos Pacasmayo S.A.A. had a net margin of 9.42% and a return on equity of 16.49%. As a group, equities analysts predict that Cementos Pacasmayo S.A.A. will post 0.91 earnings per share for the current year.

Hedge Funds 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. Dimensional Fund Advisors LP grew its holdings in Cementos Pacasmayo S.A.A. by 13.4% during the 1st 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 in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Cementos Pacasmayo S.A.A. by 6.7% during the second 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 in the last quarter. Millennium Management LLC purchased a new position in Cementos Pacasmayo S.A.A. during the fourth quarter valued at approximately $167,000. LPL Financial LLC bought a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth approximately $155,000. Finally, Virtu Financial LLC bought a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth approximately $129,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Cementos Pacasmayo S.A.A. to a “buy” rating in a research report on Saturday, August 1st. Scotiabank increased their price objective on shares of Cementos Pacasmayo S.A.A. from $12.80 to $13.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded Cementos Pacasmayo S.A.A. from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.00.

Read Our Latest Report on Cementos Pacasmayo S.A.A.

Cementos Pacasmayo S.A.A. Company Profile

(Get Free Report)

Cementos Pacasmayo SAA. is a Peru-based company engaged in the production, distribution and sale of cement and related construction materials. Its product portfolio includes cement, ready-mix concrete, mortar, concrete products, aggregates and quicklime, serving residential, commercial, industrial and infrastructure construction markets.

Founded in 1949, the company primarily serves northern and northeastern Peru through an integrated network of manufacturing plants, distribution facilities and sales channels.

Further Reading

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