Shares of Summit Materials, Inc. (NYSE:SUM) have been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.33.

SUM has been the subject of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $35.00 price target on shares of Summit Materials in a research report on Thursday, August 3rd. BidaskClub raised shares of Summit Materials from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Summit Materials from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 5th. Longbow Research initiated coverage on shares of Summit Materials in a research report on Thursday, June 8th. They issued a “buy” rating and a $34.00 price target for the company. Finally, TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd.

In other news, insider Thomas A. Beck sold 19,459 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.23, for a total value of $588,245.57. Following the sale, the insider now owns 7,498 shares in the company, valued at $226,664.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anne Lee Benedict sold 7,500 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $28.48, for a total transaction of $213,600.00. Following the completion of the sale, the insider now owns 11,213 shares in the company, valued at approximately $319,346.24. The disclosure for this sale can be found here. Insiders have sold a total of 531,879 shares of company stock worth $15,496,565 in the last 90 days. 1.97% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its holdings in Summit Materials by 0.8% during the second quarter. Teacher Retirement System of Texas now owns 8,539 shares of the construction company’s stock valued at $247,000 after purchasing an additional 64 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Summit Materials by 4.4% during the second quarter. Venturi Wealth Management LLC now owns 8,541 shares of the construction company’s stock valued at $247,000 after purchasing an additional 360 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Summit Materials by 4.9% during the second quarter. Ameritas Investment Partners Inc. now owns 9,400 shares of the construction company’s stock valued at $271,000 after purchasing an additional 443 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Summit Materials by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the construction company’s stock valued at $145,000 after purchasing an additional 510 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Summit Materials by 5.5% during the second quarter. Amalgamated Bank now owns 12,940 shares of the construction company’s stock valued at $374,000 after purchasing an additional 672 shares in the last quarter.

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Summit Materials (NYSE SUM) traded up 0.03% during trading on Tuesday, reaching $29.93. The company’s stock had a trading volume of 1,888,297 shares. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 66.51 and a beta of 2.05. The stock’s 50 day moving average is $28.77 and its 200 day moving average is $26.90. Summit Materials has a 12 month low of $17.27 and a 12 month high of $30.90.

Summit Materials (NYSE:SUM) last issued 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). The firm had revenue of $478.37 million for the quarter, compared to the consensus estimate of $469.91 million. Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, equities analysts expect that Summit Materials will post $1.22 EPS for the current fiscal year.

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.

Analyst Recommendations for Summit Materials (NYSE:SUM)

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