Summit Materials, Inc. (NYSE:SUM) – Research analysts at SunTrust Banks cut their Q2 2018 earnings estimates for Summit Materials in a note issued to investors on Wednesday. SunTrust Banks analyst R. Seth now forecasts that the construction company will post earnings of $0.56 per share for the quarter, down from their prior estimate of $0.63. SunTrust Banks currently has a “Buy” rating and a $38.00 price objective on the stock. SunTrust Banks also issued estimates for Summit Materials’ FY2018 earnings at $1.42 EPS and FY2019 earnings at $1.73 EPS.

Summit Materials (NYSE:SUM) last posted its 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). Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The business had revenue of $634.18 million for the quarter, compared to analyst estimates of $558.93 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 19.8% on a year-over-year basis.

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Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. Royal Bank Of Canada reiterated a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. TheStreet upgraded shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $35.00 target price on shares of Summit Materials in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.79.

Summit Materials (NYSE:SUM) traded up $0.17 during trading hours on Friday, reaching $29.48. 1,027,808 shares of the company traded hands, compared to its average volume of 1,478,454. The company has a current ratio of 2.59, a quick ratio of 2.01 and a debt-to-equity ratio of 1.48. Summit Materials has a twelve month low of $22.19 and a twelve month high of $32.69. The firm has a market cap of $3,180.00 and a P/E ratio of 32.50.

In other news, insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $28.20, for a total value of $352,500.00. Following the completion of the sale, the insider now owns 170,610 shares in the company, valued at approximately $4,811,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas W. Hill sold 6,300 shares of Summit Materials stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $30.27, for a total transaction of $190,701.00. Following the completion of the sale, the chief executive officer now owns 170,610 shares of the company’s stock, valued at approximately $5,164,364.70. The disclosure for this sale can be found here. Insiders sold a total of 271,610 shares of company stock worth $8,301,282 in the last 90 days. Corporate insiders own 1.97% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Summit Materials by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 325,245 shares of the construction company’s stock valued at $9,390,000 after acquiring an additional 8,490 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Summit Materials by 23.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,344,808 shares of the construction company’s stock valued at $96,565,000 after acquiring an additional 645,543 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Summit Materials by 210.8% in the 2nd quarter. First Trust Advisors LP now owns 147,795 shares of the construction company’s stock valued at $4,267,000 after acquiring an additional 100,244 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Summit Materials in the 2nd quarter valued at $121,836,000. Finally, Castleark Management LLC bought a new stake in Summit Materials during the 2nd quarter valued at $10,958,000.

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.

Earnings History and Estimates for Summit Materials (NYSE:SUM)

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