Summit Materials, Inc. (SUM) Receives $33.83 Average Target Price from Analysts

Shares of Summit Materials, Inc. (NYSE:SUM) have been assigned a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $33.60.

SUM has been the topic of a number of analyst reports. BidaskClub upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research lowered shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $35.00 price objective on shares of Summit Materials in a research report on Thursday, August 3rd. Royal Bank Of Canada lifted their price objective on shares of Summit Materials from $33.00 to $35.00 and gave the company an “outperform” rating 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.

Shares of Summit Materials (NYSE SUM) remained flat at $$30.89 during trading on Wednesday. The stock had a trading volume of 1,014,486 shares, compared to its average volume of 1,457,725. The company has a quick ratio of 2.32, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $3,296.09, a PE ratio of 33.33, a PEG ratio of 2.81 and a beta of 2.04.

Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). Summit Materials had a net margin of 4.09% and a return on equity of 10.35%. The firm had revenue of $634.18 million during the quarter, compared to analysts’ expectations of $558.93 million. During the same quarter last year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 19.8% on a year-over-year basis. research analysts expect that Summit Materials will post 1.04 EPS for the current year.

In other Summit Materials news, insider Thomas W. Hill sold 250,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $29.30, for a total transaction of $7,325,000.00. Following the sale, the insider now directly owns 70,610 shares in the company, valued at approximately $2,068,873. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Charles Rauh sold 100,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $28.69, for a total transaction of $2,869,000.00. Following the sale, the insider now owns 43,051 shares in the company, valued at $1,235,133.19. The disclosure for this sale can be found here. Insiders have sold a total of 621,610 shares of company stock worth $18,474,032 over the last 90 days. Insiders own 1.97% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its position in shares of Summit Materials by 0.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,539 shares of the construction company’s stock worth $247,000 after buying an additional 64 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Summit Materials by 4.4% in the 2nd quarter. Venturi Wealth Management LLC now owns 8,541 shares of the construction company’s stock worth $247,000 after buying an additional 360 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Summit Materials by 4.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,400 shares of the construction company’s stock worth $271,000 after buying an additional 443 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Summit Materials by 11.3% in the 2nd 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 in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Summit Materials by 5.5% in the 2nd quarter. Amalgamated Bank now owns 12,940 shares of the construction company’s stock worth $374,000 after buying an additional 672 shares in the last quarter.

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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.

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