Summit Materials (SUM) Earns Media Sentiment Score of 0.29
Press coverage about Summit Materials (NYSE:SUM) has been trending positive this week, according to Accern Sentiment. Accern identifies negative and positive news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Summit Materials earned a coverage optimism score of 0.29 on Accern’s scale. Accern also assigned news headlines about the construction company an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an effect on the stock’s share price in the near future.
These are some of the news headlines that may have impacted Accern Sentiment’s scoring:
- Summit Materials Inc : Investor Network: Summit Materials, Inc. to Host Earnings Call (4-traders.com)
- Edited Transcript of SUM earnings conference call or presentation 2-Aug-17 4:30pm GMT (finance.yahoo.com)
- Summit Materials, Inc. (SUM) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS (americanbankingnews.com)
- Summit Materials, Inc. – Value Analysis (NYSE:SUM) : August 1, 2017 (finance.yahoo.com)
- Summit Materials, Inc. Reports Second Quarter 2017 Results (finance.yahoo.com)
Summit Materials (NYSE:SUM) traded up 0.34% during midday trading on Thursday, reaching $29.21. 1,871,112 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $28.53 and its 200 day moving average is $26.12. Summit Materials has a 52 week low of $17.27 and a 52 week high of $29.67. The firm has a market capitalization of $3.11 billion, a P/E ratio of 64.91 and a beta of 2.07.
Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.57 by $0.09. Summit Materials had a net margin of 0.33% and a return on equity of 10.00%. The company had revenue of $478.37 million for the quarter, compared to analyst estimates of $469.91 million. During the same quarter last year, the business earned $0.46 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts expect that Summit Materials will post $1.31 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Summit Materials from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus reissued a “buy” rating and issued a $35.00 price target on shares of Summit Materials in a research note on Thursday. Zacks Investment Research raised shares of Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Tuesday, May 9th. BidaskClub raised shares of Summit Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Longbow Research assumed coverage on shares of Summit Materials in a research report on Thursday, June 8th. They set a “buy” rating and a $34.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Summit Materials currently has a consensus rating of “Hold” and an average target price of $29.88.
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In related news, CEO Thomas W. Hill sold 6,300 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $28.74, for a total value of $181,062.00. Following the completion of the transaction, the chief executive officer now directly owns 20,610 shares of the company’s stock, valued at $592,331.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anne Lee Benedict sold 7,500 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $28.48, for a total value of $213,600.00. Following the completion of the transaction, the insider now directly owns 11,213 shares of the company’s stock, valued at $319,346.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 284,854 shares of company stock worth $7,995,604. 1.97% of the stock is currently owned by corporate insiders.
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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