Somewhat Critical Media Coverage Somewhat Unlikely to Affect Summit Materials (SUM) Stock Price
Media headlines about Summit Materials (NYSE:SUM) have been trending somewhat negative recently, according to Accern Sentiment. Accern scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Summit Materials earned a media sentiment score of -0.01 on Accern’s scale. Accern also gave news stories about the construction company an impact score of 47.0730675396099 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
- DA Davidson Research Analysts Lower Earnings Estimates for Summit Materials, Inc. (SUM) (americanbankingnews.com)
- ETFs with exposure to Summit Materials, Inc. : October 11, 2017 (finance.yahoo.com)
- Summit Materials : Announces Third Quarter 2017 Results Conference Call Date (4-traders.com)
- Summit Materials, Inc. :SUM-US: Earnings Analysis: Q2, 2017 By the Numbers : October 10, 2017 (finance.yahoo.com)
SUM has been the topic of several recent research reports. BidaskClub downgraded shares of Summit Materials from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Summit Materials from a “strong sell” rating to a “hold” rating in a report on Saturday, August 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $35.00 price objective (up from $33.00) on shares of Summit Materials in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $35.00 price objective on shares of Summit Materials in a report on Thursday, August 3rd. Finally, TheStreet raised shares of Summit Materials from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.20.
Shares of Summit Materials (SUM) opened at 31.49 on Tuesday. Summit Materials has a one year low of $17.84 and a one year high of $32.69. The stock has a 50 day moving average of $31.20 and a 200-day moving average of $31.20. The stock has a market capitalization of $3.39 billion, a P/E ratio of 69.98 and a beta of 2.07.
Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.09). Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. The company had revenue of $478.37 million for the quarter, compared to analysts’ expectations of $469.91 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts forecast that Summit Materials will post $1.19 earnings per share for the current year.
In related news, insider Thomas W. Hill sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $29.30, for a total value of $7,325,000.00. Following the transaction, the insider now directly owns 70,610 shares of the company’s stock, valued at approximately $2,068,873. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $28.75, for a total value of $359,375.00. Following the completion of the transaction, the insider now directly owns 20,610 shares in the company, valued at $592,537.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 622,733 shares of company stock worth $18,406,421. 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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