News stories about Summit Materials (NYSE:SUM) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Summit Materials earned a daily sentiment score of 0.19 on Accern’s scale. Accern also assigned news articles about the construction company an impact score of 47.8138865103788 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
A number of equities research analysts have recently commented on SUM shares. Goldman Sachs upgraded Summit Materials from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th. Citigroup increased their price objective on Summit Materials from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays started coverage on Summit Materials in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $32.00 price objective for the company. Zacks Investment Research downgraded Summit Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Finally, Deutsche Bank increased their price objective on Summit Materials from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Summit Materials presently has a consensus rating of “Buy” and an average price target of $33.28.
Shares of Summit Materials (SUM) opened at $31.22 on Tuesday. The stock has a market capitalization of $3,433.46, a price-to-earnings ratio of 29.72, a PEG ratio of 1.97 and a beta of 1.72. Summit Materials has a 1-year low of $22.19 and a 1-year high of $34.06. The company has a quick ratio of 2.40, a current ratio of 3.13 and a debt-to-equity ratio of 1.42.
Summit Materials (NYSE:SUM) last released its earnings results on Wednesday, February 14th. The construction company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.24. The company had revenue of $490.02 million during the quarter, compared to analyst estimates of $449.45 million. Summit Materials had a return on equity of 11.51% and a net margin of 6.19%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. sell-side analysts expect that Summit Materials will post 1.51 EPS for the current fiscal year.
In related news, insider Thomas W. Hill sold 12,500 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $31.24, for a total transaction of $390,500.00. Following the completion of the sale, the insider now directly owns 176,810 shares in the company, valued at $5,523,544.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas W. Hill sold 447,959 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $31.02, for a total value of $13,895,688.18. Following the sale, the chief executive officer now owns 146,245 shares of the company’s stock, valued at $4,536,519.90. The disclosure for this sale can be found here. Insiders sold 601,883 shares of company stock valued at $18,757,976 in the last 90 days. Corporate insiders own 1.97% of the company’s stock.
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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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