Barclays PLC Increases Cementos Pacasmayo S.A.A. (CPAC) Price Target to $12.00

Cementos Pacasmayo S.A.A. (NYSE:CPAC) had its target price upped by equities researchers at Barclays PLC from $11.00 to $12.00 in a report released on Friday, October 27th. The brokerage currently has an “equal weight” rating on the construction company’s stock. Barclays PLC’s price objective would indicate a potential downside of 5.06% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CPAC. BidaskClub raised shares of Cementos Pacasmayo S.A.A. from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Cementos Pacasmayo S.A.A. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Scotiabank cut shares of Cementos Pacasmayo S.A.A. from a “sector outperform” rating to a “sector perform” rating and increased their target price for the company from $11.90 to $14.10 in a research report on Saturday, September 16th. Finally, Bank of America Corporation increased their target price on shares of Cementos Pacasmayo S.A.A. from $9.90 to $11.00 and gave the company an “underperform” rating in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.37.

Shares of Cementos Pacasmayo S.A.A. (CPAC) opened at $12.64 on Friday. The stock has a market cap of $1,076.63, a PE ratio of 40.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.61 and a quick ratio of 1.62. Cementos Pacasmayo S.A.A. has a 52-week low of $8.52 and a 52-week high of $13.39.

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A hedge fund recently raised its stake in Cementos Pacasmayo S.A.A. stock. Investec Asset Management LTD boosted its position in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 197.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 214,475 shares of the construction company’s stock after buying an additional 142,251 shares during the quarter. Investec Asset Management LTD’s holdings in Cementos Pacasmayo S.A.A. were worth $2,451,000 at the end of the most recent reporting period. 1.01% of the stock is owned by hedge funds and other institutional investors.

About Cementos Pacasmayo S.A.A.

Pacasmayo Cement Corp, formerly Cementos Pacasmayo SAA, is a Peru-based company principally engaged in the production, distribution and sale of construction materials. The Company is active in the development of traditional and blended cement, ready-mix concrete, mortars, quicklime, concrete blocks, diatomite bricks and aggregates, among others.

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