Summit Materials Inc (NYSE:SUM) – Equities researchers at DA Davidson issued their Q1 2019 EPS estimates for shares of Summit Materials in a note issued to investors on Wednesday, November 7th. DA Davidson analyst B. Thielman expects that the construction company will post earnings per share of ($0.57) for the quarter. DA Davidson currently has a “Buy” rating and a $28.00 target price on the stock. DA Davidson also issued estimates for Summit Materials’ Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.43 EPS and FY2020 earnings at $1.76 EPS.
A number of other research analysts also recently commented on the company. ValuEngine downgraded Summit Materials from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 11th. Stephens set a $21.00 target price on Summit Materials and gave the company a “buy” rating in a research note on Wednesday, October 17th. Royal Bank of Canada set a $18.00 target price on Summit Materials and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Friday, July 27th. Finally, Citigroup lowered their target price on Summit Materials from $38.00 to $37.00 and set a “$25.50” rating on the stock in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Summit Materials presently has an average rating of “Buy” and an average price target of $26.70.
Shares of NYSE SUM opened at $13.82 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 1.41. Summit Materials has a one year low of $11.67 and a one year high of $34.06. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.59 and a beta of 1.80.
Summit Materials (NYSE:SUM) last issued its earnings results on Tuesday, November 6th. The construction company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.21). Summit Materials had a net margin of 4.64% and a return on equity of 6.87%. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $638.93 million. During the same quarter last year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year.
Several large investors have recently made changes to their positions in SUM. Bank of Montreal Can lifted its position in shares of Summit Materials by 55.1% in the second quarter. Bank of Montreal Can now owns 5,698 shares of the construction company’s stock worth $149,000 after buying an additional 2,025 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Summit Materials by 626.2% in the second quarter. Cubist Systematic Strategies LLC now owns 8,605 shares of the construction company’s stock worth $226,000 after buying an additional 7,420 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of Summit Materials in the third quarter worth about $230,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Summit Materials in the second quarter worth about $312,000. Finally, Amalgamated Bank lifted its position in shares of Summit Materials by 15.8% in the second quarter. Amalgamated Bank now owns 17,117 shares of the construction company’s stock worth $449,000 after buying an additional 2,333 shares during the last quarter.
Summit Materials Company Profile
Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.
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