Cementos Pacasmayo (NYSE:CPAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
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 research reports. Santander upgraded Cementos Pacasmayo from a “hold” rating to a “buy” rating in a research report on Friday, December 7th. HSBC upgraded Cementos Pacasmayo from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.67.
An institutional investor recently bought a new position in Cementos Pacasmayo stock. JPMorgan Chase & Co. bought a new stake in Cementos Pacasmayo (NYSE:CPAC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,877 shares of the construction company’s stock, valued at approximately $417,000. 3.95% of the stock is owned by institutional investors.
Cementos Pacasmayo Company Profile
Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in the northern region of Peru. The company operates in three segments: Cement, Concrete and Blocks; Quicklime; and Sales of Construction Supplies. It produces cement for various uses, such as residential and commercial construction, and civil engineering; ready-mix concrete used in large construction sites; concrete blocks, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete blocks for structural and non-structural uses; and cement based products, including assembly gravity walls, beams and vaults, precast beams, sheet piles, seawalls, and piles, as well as bathroom and housing units.
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