Summit Materials, Inc. (NYSE:SUM)‘s stock had its “buy” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued on Thursday.

A number of other research analysts also recently issued reports on SUM. Zacks Investment Research downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Stifel Nicolaus restated a “buy” rating and issued a $35.00 price target on shares of Summit Materials in a research report on Thursday, August 3rd. Finally, TheStreet upgraded shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Summit Materials presently has a consensus rating of “Hold” and a consensus target price of $33.83.

Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.10). The firm had revenue of $634.18 million during the quarter, compared to analyst estimates of $558.93 million. Summit Materials had a return on equity of 10.35% and a net margin of 4.09%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS.

COPYRIGHT VIOLATION NOTICE: This news story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/02/summit-materials-inc-sum-given-buy-rating-at-royal-bank-of-canada.html.

In other news, insider Anne Lee Benedict sold 21,147 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $29.27, for a total value of $618,972.69. Following the completion of the sale, the insider now owns 20,448 shares in the company, valued at approximately $598,512.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $32.12, for a total transaction of $401,500.00. Following the completion of the sale, the insider now owns 139,310 shares of the company’s stock, valued at approximately $4,474,637.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 616,433 shares of company stock valued at $18,267,484. Company insiders own 1.97% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SUM. BlackRock Inc. grew its stake in shares of Summit Materials by 57,208.1% in the 1st quarter. BlackRock Inc. now owns 7,522,836 shares of the construction company’s stock worth $185,890,000 after acquiring an additional 7,509,709 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Summit Materials in the 2nd quarter worth about $121,836,000. Levin Capital Strategies L.P. purchased a new position in shares of Summit Materials in the 4th quarter worth about $68,320,000. FMR LLC boosted its holdings in shares of Summit Materials by 616.9% in the 2nd quarter. FMR LLC now owns 3,014,261 shares of the construction company’s stock worth $87,021,000 after buying an additional 2,593,803 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Summit Materials by 147.2% in the 3rd quarter. Citadel Advisors LLC now owns 2,897,119 shares of the construction company’s stock worth $53,741,000 after buying an additional 1,725,230 shares during the last quarter.

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.

Analyst Recommendations for Summit Materials (NYSE:SUM)

Receive News & Ratings for Summit Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.