Weekly Analysts’ Ratings Changes for Summit Materials (SUM)
Several brokerages have updated their recommendations and price targets on shares of Summit Materials (NYSE: SUM) in the last few weeks:
- 10/11/2016 – Summit Materials was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating. They now have a $21.00 price target on the stock, down previously from $22.00.
- 10/9/2016 – Summit Materials had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $27.00 price target on the stock.
- 10/7/2016 – Summit Materials was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Summit Materials, Inc. is a construction material company. The company supplies aggregates, cement, ready-mix concrete and asphalt primarily in the United States and western Canada. Summit Materials, Inc. is headquartered in Denver, Colorado. “
- 10/6/2016 – Summit Materials was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $21.00 price target on the stock. According to Zacks, “Summit Materials, Inc. is a construction material company. The company supplies aggregates, cement, ready-mix concrete and asphalt primarily in the United States and western Canada. Summit Materials, Inc. is headquartered in Denver, Colorado. “
- 8/31/2016 – Summit Materials had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $27.00 price target on the stock.
Shares of Summit Materials Inc. (NYSE:SUM) traded up 1.68% on Wednesday, hitting $18.78. The stock had a trading volume of 855,403 shares. Summit Materials Inc. has a 12 month low of $13.12 and a 12 month high of $24.60. The stock has a market cap of $1.42 billion, a P/E ratio of 56.40 and a beta of 2.07. The firm has a 50 day moving average of $19.02 and a 200 day moving average of $20.39.
Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.01. The business had revenue of $412.60 million for the quarter, compared to analysts’ expectations of $417.14 million. Summit Materials had a return on equity of 11.60% and a net margin of 2.02%. Summit Materials’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. On average, equities analysts forecast that Summit Materials Inc. will post $0.10 earnings per share for the current fiscal year.
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In other Summit Materials news, insider Thomas W. Hill sold 10,000 shares of Summit Materials stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $17.87, for a total transaction of $178,700.00. Following the transaction, the insider now owns 10,150 shares of the company’s stock, valued at $181,380.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian James Harris sold 30,000 shares of Summit Materials stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $20.67, for a total value of $620,100.00. Following the transaction, the chief financial officer now directly owns 55,825 shares in the company, valued at approximately $1,153,902.75. The disclosure for this sale can be found here. Corporate insiders own 4.49% of the company’s stock.
Summit Materials, Inc is a construction materials company. The Company operates through three segments: the west segment, which includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming, and in British Columbia, Canada; east segment, which serves markets across the Midwestern and Eastern United States, and Cement segment, which consists of its Hannibal, Missouri and Davenport, Iowa cement plants and approximately eight distribution terminals along the Mississippi River from Minnesota to Louisiana.
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