Summit Materials Inc (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction dated 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 owns 176,810 shares in the company, valued at $5,523,544.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Summit Materials Inc (NYSE SUM) opened at $31.85 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.59 and a quick ratio of 2.01. Summit Materials Inc has a 1 year low of $22.19 and a 1 year high of $32.69. The company has a market cap of $3,630.00 and a PE ratio of 46.84.
Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.10). The business had revenue of $634.18 million during the quarter, compared to the consensus estimate of $558.93 million. Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. Summit Materials’s revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 earnings per share. equities analysts anticipate that Summit Materials Inc will post 0.98 EPS for the current year.
Several brokerages have commented on SUM. Barclays began coverage on shares of Summit Materials in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $32.00 price target on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $12.50 price target on shares of Summit Materials in a research report on Wednesday, November 8th. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Bank of America boosted their price target on shares of 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 target on shares of Summit Materials and gave the stock a “buy” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.50.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Summit Materials by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after purchasing an additional 510 shares in the last quarter. First Manhattan Co. purchased a new position in Summit Materials in the 3rd quarter worth about $160,000. Cubist Systematic Strategies LLC purchased a new position in Summit Materials in the 3rd quarter worth about $180,000. Daiwa Securities Group Inc. purchased a new position in Summit Materials in the 3rd quarter worth about $202,000. Finally, Engineers Gate Manager LP purchased a new position in Summit Materials in the 3rd quarter worth about $268,000.
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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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