Media coverage about Summit Materials (NYSE:SUM) has trended somewhat positive recently, according to Accern. The research group identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Summit Materials earned a coverage optimism score of 0.06 on Accern’s scale. Accern also assigned news coverage about the construction company an impact score of 45.6207157483108 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news articles that may have impacted Accern’s scoring:
- Summit Materials, Inc. (SUM) Receives Average Recommendation of “Buy” from Analysts (americanbankingnews.com)
- Smart Sand (SND) vs. Summit Materials (SUM) Critical Contrast (americanbankingnews.com)
- Summit Materials, Inc. breached its 50 day moving average in a Bearish Manner : SUM-US : August 14, 2017 (finance.yahoo.com)
- Summit Materials, Inc. (SUM) Insider Thomas W. Hill Sells 12,500 Shares (americanbankingnews.com)
Several equities analysts have recently weighed in on SUM shares. TheStreet downgraded Summit Materials from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, May 9th. Longbow Research assumed coverage on Summit Materials in a research report on Thursday, June 8th. They set a “buy” rating and a $34.00 price objective on the stock. BidaskClub upgraded Summit Materials from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $33.00 price objective on shares of Summit Materials in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.43.
Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.09. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The business had revenue of $478.37 million for the quarter, compared to analysts’ expectations of $469.91 million. During the same period in the prior year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Summit Materials will post $1.23 EPS for the current fiscal year.
In other Summit Materials news, insider Thomas W. Hill sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $26.94, for a total value of $336,750.00. Following the transaction, the insider now directly owns 20,610 shares of the company’s stock, valued at $555,233.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas W. Hill sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $29.30, for a total value of $7,325,000.00. Following the completion of the transaction, the insider now directly owns 70,610 shares in the company, valued at $2,068,873. The disclosure for this sale can be found here. In the last three months, insiders have sold 498,947 shares of company stock worth $14,391,775. Corporate insiders own 1.97% of the company’s stock.
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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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