Shares of Summit Materials Inc (NYSE:SUM) have been given a consensus recommendation of “Buy” by the eleven analysts that are covering the company, Marketbeat Ratings reports. 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 company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $30.92.

SUM has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Summit Materials in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $32.00 target price for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.50 target price on shares of Summit Materials in a research note on Wednesday, November 8th. Zacks Investment Research downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Bank of America boosted their target price on shares of Summit Materials from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Finally, SunTrust Banks set a $38.00 target price on shares of Summit Materials and gave the stock a “buy” rating in a research note on Tuesday, October 24th.

Shares of Summit Materials (SUM) traded up $0.20 during mid-day trading on Monday, reaching $31.85. 661,300 shares of the company traded hands, compared to its average volume of 1,122,622. Summit Materials has a 12-month low of $22.19 and a 12-month high of $32.69. The company has a market cap of $3,630.00 and a P/E ratio of 46.84. The company has a quick ratio of 2.01, a current ratio of 2.59 and a debt-to-equity ratio of 1.48.

Summit Materials (NYSE:SUM) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $558.93 million. During the same period in the prior year, the business earned $0.73 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. equities research analysts predict that Summit Materials will post 0.98 earnings per share for the current year.

In related news, EVP Damian John Murphy sold 115,118 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $31.75, for a total transaction of $3,654,996.50. Following the completion of the sale, the executive vice president now directly owns 66,440 shares of the company’s stock, valued at $2,109,470. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $29.80, for a total transaction of $372,500.00. Following the sale, the insider now directly owns 214,310 shares of the company’s stock, valued at $6,386,438. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,442 shares of company stock valued at $6,786,892. Insiders own 1.97% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Summit Materials by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock worth $145,000 after buying an additional 510 shares during the last quarter. First Manhattan Co. bought a new stake in shares of Summit Materials during the third quarter worth approximately $160,000. Cubist Systematic Strategies LLC bought a new stake in shares of Summit Materials during the third quarter worth approximately $180,000. Daiwa Securities Group Inc. acquired a new position in Summit Materials during the third quarter valued at approximately $202,000. Finally, Engineers Gate Manager LP acquired a new position in Summit Materials during the third quarter valued at approximately $268,000.

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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.

Analyst Recommendations for Summit Materials (NYSE:SUM)

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