Cementos Pacasmayo (NYSE:CPAC) Coverage Initiated at HSBC

HSBC began coverage on shares of Cementos Pacasmayo (NYSE:CPAC) in a research report report published on Wednesday, April 11th, MarketBeat Ratings reports. The firm issued a hold rating and a $13.00 price target on the construction company’s stock.

A number of other research firms have also recently commented on CPAC. Zacks Investment Research cut Cementos Pacasmayo from a hold rating to a sell rating in a research report on Friday, March 9th. Bank of America upgraded Cementos Pacasmayo from an underperform rating to a neutral rating and set a $12.00 price objective on the stock in a report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of Hold and an average target price of $13.02.

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Shares of CPAC stock opened at $12.12 on Wednesday. The firm has a market capitalization of $1,027.46, a P/E ratio of 39.10, a PEG ratio of 0.74 and a beta of 1.10. The company has a quick ratio of 0.88, a current ratio of 2.70 and a debt-to-equity ratio of 0.64. Cementos Pacasmayo has a 1 year low of $10.02 and a 1 year high of $13.49.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Compass Group LLC purchased a new position in Cementos Pacasmayo in the 4th quarter worth approximately $4,702,000. Investec Asset Management LTD raised its position in shares of Cementos Pacasmayo by 15.0% during the 4th quarter. Investec Asset Management LTD now owns 305,939 shares of the construction company’s stock valued at $3,794,000 after buying an additional 40,000 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Cementos Pacasmayo during the 4th quarter valued at approximately $160,000. 4.87% of the stock is currently owned by institutional investors and hedge funds.

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About Cementos Pacasmayo

Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in the northern region of Peru. It 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; and 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.

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