News stories about Summit Materials (NYSE:SUM) have been trending somewhat positive this week, Accern reports. Accern scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Summit Materials earned a news impact score of 0.04 on Accern’s scale. Accern also gave media headlines about the construction company an impact score of 46.9746167174867 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Several research firms have issued reports on SUM. BidaskClub downgraded Summit Materials from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Canaccord Genuity reiterated a “buy” rating and issued a $12.50 target price on shares of Summit Materials in a research report on Wednesday, November 8th. Zacks Investment Research lowered Summit Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Bank of America lifted their target price on Summit Materials from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Finally, SunTrust Banks set a $38.00 price objective on Summit Materials and gave the company a “buy” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.42.
Summit Materials (NYSE SUM) traded up $1.26 during trading hours on Monday, reaching $31.46. The company had a trading volume of 1,160,924 shares, compared to its average volume of 1,459,927. The company has a quick ratio of 2.01, a current ratio of 2.59 and a debt-to-equity ratio of 1.48. Summit Materials has a twelve month low of $22.19 and a twelve month high of $32.69. The firm has a market cap of $3,280.00 and a price-to-earnings ratio of 32.83.
Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.10). Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The business had revenue of $634.18 million for the quarter, compared to analyst estimates of $558.93 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. sell-side analysts forecast that Summit Materials will post 1.02 EPS for the current fiscal year.
In other news, insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $29.80, for a total value of $372,500.00. Following the sale, the insider now owns 214,310 shares of the company’s stock, valued at approximately $6,386,438. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas A. Beck sold 17,899 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $30.24, for a total value of $541,265.76. Following the completion of the sale, the insider now directly owns 7,498 shares in the company, valued at approximately $226,739.52. The disclosure for this sale can be found here. Insiders have sold a total of 257,036 shares of company stock valued at $7,884,062 in the last quarter. 1.97% of the stock is currently owned by insiders.
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Summit Materials Company Profile
Summit Materials, Inc is a construction materials company. The Company operates through three segments: West, East and Cement. As of December 31, 2016, the Company had operations in 21 states in the United States and in British Columbia, Canada. The Company’s materials include aggregates, which it supplies across the United States, and in British Columbia, Canada, and cement, which it supplies along the Mississippi River from Minneapolis to New Orleans.
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