Zacks Investment Research downgraded shares of Summit Materials (NYSE:SUM) from a hold rating to a strong sell rating in a report issued on Friday.

According to Zacks, “Summit Materials, Inc. is a construction material company. The company supplies aggregates, cement, ready-mix concrete and asphalt primarily in the United States and western Canada. Summit Materials, Inc. is headquartered in Denver, Colorado. “

SUM has been the topic of several other reports. DA Davidson set a $28.00 target price on shares of Summit Materials and gave the stock a buy rating in a research note on Thursday, October 11th. Royal Bank of Canada set a $18.00 target price on shares of Summit Materials and gave the stock a buy rating in a research note on Wednesday, November 7th. Stephens set a $21.00 target price on shares of Summit Materials and gave the stock a buy rating in a research note on Wednesday, October 17th. Stifel Nicolaus reiterated a buy rating and issued a $25.00 target price on shares of Summit Materials in a research note on Thursday, November 8th. Finally, Jefferies Financial Group reiterated a buy rating and issued a $24.00 target price on shares of Summit Materials in a research note on Thursday, November 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $25.40.

Shares of SUM stock opened at $15.65 on Friday. The company has a market cap of $1.75 billion, a P/E ratio of 104.33, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.45 and a current ratio of 2.27. Summit Materials has a 12 month low of $11.25 and a 12 month high of $33.31.

Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, February 6th. The construction company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.20). The business had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $459.58 million. Summit Materials had a net margin of 1.68% and a return on equity of 1.34%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, research analysts forecast that Summit Materials will post 0.82 EPS for the current year.

In related news, insider Thomas A. Beck acquired 10,000 shares of the stock in a transaction dated Monday, November 19th. The shares were purchased at an average price of $13.97 per share, for a total transaction of $139,700.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brian James Harris acquired 2,000 shares of the stock in a transaction dated Monday, December 10th. The shares were bought at an average price of $13.00 per share, for a total transaction of $26,000.00. Following the transaction, the chief financial officer now owns 74,584 shares in the company, valued at approximately $969,592. The disclosure for this purchase can be found here. Insiders acquired a total of 14,000 shares of company stock worth $192,460 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Pearl River Capital LLC bought a new stake in Summit Materials in the 4th quarter worth $26,000. Oppenheimer Asset Management Inc. bought a new stake in Summit Materials in the 4th quarter worth $64,000. Bank of Montreal Can grew its holdings in Summit Materials by 42.8% in the 4th quarter. Bank of Montreal Can now owns 10,929 shares of the construction company’s stock worth $136,000 after acquiring an additional 3,275 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Summit Materials in the 4th quarter worth $139,000. Finally, LPL Financial LLC bought a new stake in Summit Materials in the 4th quarter worth $148,000.

About Summit Materials

Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.

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