Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Large Drop in Short Interest

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 21,300 shares, a drop of 22.0% from the September 30th total of 27,300 shares. Based on an average trading volume of 5,500 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut Cementos Pacasmayo S.A.A. from a “neutral” rating to an “underweight” rating and set a $6.00 price target on the stock. in a report on Wednesday, August 21st.

Cementos Pacasmayo S.A.A. Price Performance

CPAC traded down $0.08 during trading on Wednesday, hitting $6.15. 39,995 shares of the company traded hands, compared to its average volume of 7,348. The company has a current ratio of 1.54, a quick ratio of 0.39 and a debt-to-equity ratio of 0.87. The company has a market cap of $521.34 million, a PE ratio of 10.95 and a beta of 0.64. The stock’s 50-day simple moving average is $5.73 and its two-hundred day simple moving average is $5.61. Cementos Pacasmayo S.A.A. has a 1 year low of $4.65 and a 1 year high of $6.64.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Cementos Pacasmayo S.A.A. had a return on equity of 16.20% and a net margin of 8.58%. The firm had revenue of $137.76 million during the quarter, compared to analyst estimates of $140.30 million. As a group, sell-side analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.49 earnings per share for the current fiscal year.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in Peru. It operates through three segments: Cement, Concrete, Mortar and Precast; Quicklime; and Sales of Construction Supplies. The company’s cement and concrete products are used in residential and commercial construction, and civil engineering; ready-mix concrete used in construction sites; concrete precast, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete precast for structural and non-structural uses; and cement-based products.