Cementos Pacasmayo (NYSE:CPAC) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Cementos Pacasmayo (NYSE:CPAC) from a hold rating to a sell rating in a research note released on Monday morning, Zacks.com reports.

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 topic of a number of other reports. ValuEngine cut Cementos Pacasmayo from a hold rating to a sell rating in a report on Monday, July 29th. UBS Group upgraded Cementos Pacasmayo from a neutral rating to a buy rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. cut Cementos Pacasmayo from a neutral rating to an underweight rating and cut their target price for the stock from $9.00 to $8.50 in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Cementos Pacasmayo presently has an average rating of Hold and a consensus target price of $10.33.

Shares of Cementos Pacasmayo stock traded down $0.21 on Monday, reaching $9.54. 1,138 shares of the company’s stock were exchanged, compared to its average volume of 2,945. Cementos Pacasmayo has a 52 week low of $8.00 and a 52 week high of $10.67. The firm’s 50-day moving average is $9.30 and its two-hundred day moving average is $8.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 2.90. The company has a market capitalization of $801.11 million, a P/E ratio of 25.78 and a beta of 0.83.

An institutional investor recently bought a new position in Cementos Pacasmayo stock. Aperio Group LLC bought a new position in Cementos Pacasmayo ADR (NYSE:CPAC) during the second quarter, according to its most recent filing with the SEC. The firm bought 3,161 shares of the construction company’s stock, valued at approximately $28,000. Institutional investors own 3.89% of the company’s stock.

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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