Cementos Pacasmayo S.A.A. (NYSE:CPAC) Shares Gap Down – Should You Sell?

Shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) gapped down prior to trading on Monday . The stock had previously closed at $9.90, but opened at $9.40. Cementos Pacasmayo S.A.A. shares last traded at $9.8040, with a volume of 620 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CPAC. Weiss Ratings downgraded Cementos Pacasmayo S.A.A. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. raised shares of Cementos Pacasmayo S.A.A. from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $7.50 to $13.00 in a report on Wednesday, March 4th. Scotiabank increased their price target on shares of Cementos Pacasmayo S.A.A. from $6.40 to $12.80 and gave the stock a “sector perform” rating in a research report on Friday, December 19th. Finally, Wall Street Zen cut shares of Cementos Pacasmayo S.A.A. from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.90.

Cementos Pacasmayo S.A.A. Price Performance

The firm has a 50 day moving average price of $10.65 and a 200 day moving average price of $8.75. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 0.74. The stock has a market cap of $868.09 million, a P/E ratio of 20.90 and a beta of 0.69.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its quarterly earnings data on Friday, February 13th. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The company had revenue of $166.82 million for the quarter, compared to the consensus estimate of $174.95 million. Cementos Pacasmayo S.A.A. had a net margin of 7.11% and a return on equity of 11.85%. On average, analysts forecast that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Cementos Pacasmayo S.A.A.

Hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. bought a new stake in shares of Cementos Pacasmayo S.A.A. during the 3rd quarter valued at $522,000. LPL Financial LLC purchased a new position in shares of Cementos Pacasmayo S.A.A. during the 4th quarter valued at $155,000. Dimensional Fund Advisors LP boosted its holdings in Cementos Pacasmayo S.A.A. by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,754 shares of the construction company’s stock worth $958,000 after buying an additional 6,054 shares during the period. BNP Paribas Financial Markets increased its stake in Cementos Pacasmayo S.A.A. by 6.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock worth $179,000 after buying an additional 1,900 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Cementos Pacasmayo S.A.A. in the 4th quarter worth $167,000.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA. is a Peru‐based cement and construction materials company engaged in the production, distribution and sale of cement and related products. The company’s core activities include manufacturing ordinary portland cement, hydrated lime and other industrial minerals. It serves the building and infrastructure sectors, offering tailored solutions for public works, residential and commercial construction projects.

Founded in 1949 in the coastal city of Pacasmayo, the company has grown into one of Peru’s leading cement producers.