Analysts Set Summit Materials Inc (SUM) Target Price at $32.07
Shares of Summit Materials Inc (NYSE:SUM) have earned an average rating of “Hold” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $32.07.
Several equities research analysts recently commented on SUM shares. Canaccord Genuity reissued a “buy” rating and set a $12.50 target price on shares of Summit Materials in a report on Wednesday, November 8th. Royal Bank of Canada reissued a “buy” rating on shares of Summit Materials in a report on Thursday, November 2nd. SunTrust Banks set a $38.00 target price on Summit Materials and gave the stock a “buy” rating in a report on Tuesday, October 24th. Citigroup upped their price target on Summit Materials from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, TheStreet cut Summit Materials from a “b” rating to a “c” rating in a report on Thursday, February 8th.
In other Summit Materials news, insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $28.85, for a total transaction of $360,625.00. Following the sale, the insider now directly owns 160,548 shares of the company’s stock, valued at approximately $4,631,809.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Damian John Murphy sold 115,118 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $31.75, for a total transaction of $3,654,996.50. Following the sale, the executive vice president now directly owns 66,440 shares in the company, valued at $2,109,470. The disclosure for this sale can be found here. Insiders sold 196,418 shares of company stock worth $6,131,924 in the last ninety days. 1.97% of the stock is owned by corporate insiders.
Shares of Summit Materials (NYSE:SUM) traded up $2.79 during trading hours on Friday, reaching $31.58. The company had a trading volume of 5,455,735 shares, compared to its average volume of 1,232,785. Summit Materials has a 1 year low of $22.19 and a 1 year high of $34.06. The company has a market capitalization of $3,206.20, a PE ratio of 47.09, a price-to-earnings-growth ratio of 1.90 and a beta of 1.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.01 and a current ratio of 2.59.
Summit Materials (NYSE:SUM) last announced its earnings results on Wednesday, February 14th. The construction company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.19. Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The firm had revenue of $490.02 million for the quarter, compared to analysts’ expectations of $449.45 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. equities analysts predict that Summit Materials will post 0.92 earnings per share for the current fiscal year.
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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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