Summit Materials Inc (NYSE:SUM) has earned an average rating of “Hold” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $30.92.
Several equities analysts recently issued reports on SUM shares. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. SunTrust Banks set a $38.00 target price on shares of Summit Materials and gave the company a “buy” rating in a research note on Tuesday, October 24th. Bank of America boosted their target price on shares of Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Royal Bank of Canada restated a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. Finally, Canaccord Genuity restated a “buy” rating and set a $12.50 price objective on shares of Summit Materials in a research report on Wednesday, November 8th.
In other Summit Materials news, insider Douglas Charles Rauh sold 26,324 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $31.36, for a total transaction of $825,520.64. Following the completion of the transaction, the insider now directly owns 18,724 shares in the company, valued at $587,184.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $32.11, for a total transaction of $401,375.00. The disclosure for this sale can be found here. Insiders have sold 216,442 shares of company stock valued at $6,814,142 over the last 90 days. 1.97% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. California Public Employees Retirement System grew its holdings in shares of Summit Materials by 1.5% during the third quarter. California Public Employees Retirement System now owns 212,000 shares of the construction company’s stock worth $6,790,000 after buying an additional 3,100 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Summit Materials by 8.9% during the third quarter. Bamco Inc. NY now owns 3,064,202 shares of the construction company’s stock worth $98,146,000 after buying an additional 250,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Summit Materials during the third quarter worth $180,000. Janus Henderson Group PLC grew its holdings in shares of Summit Materials by 42.5% during the third quarter. Janus Henderson Group PLC now owns 6,012,622 shares of the construction company’s stock worth $192,584,000 after buying an additional 1,792,448 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Summit Materials by 219.7% during the third quarter. Jane Street Group LLC now owns 11,487 shares of the construction company’s stock worth $368,000 after buying an additional 21,087 shares in the last quarter.
Summit Materials (SUM) traded up $0.14 on Thursday, hitting $30.04. 1,540,000 shares of the company traded hands, compared to its average volume of 1,451,673. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.01 and a current ratio of 2.59. Summit Materials has a 1 year low of $22.19 and a 1 year high of $32.69. The firm has a market cap of $3,288.69, a PE ratio of 32.96, a P/E/G ratio of 2.82 and a beta of 1.97.
Summit Materials (NYSE:SUM) last posted its earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.10). Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The firm had revenue of $634.18 million during the quarter, compared to analyst estimates of $558.93 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. analysts forecast that Summit Materials will post 1.01 earnings per share for the current fiscal year.
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About Summit Materials
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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