Insider Selling: Summit Materials Inc (SUM) Insider Sells 12,500 Shares of Stock
Summit Materials Inc (NYSE:SUM) insider Thomas W. Hill sold 12,500 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $31.24, for a total transaction of $390,500.00. Following the sale, the insider now directly owns 176,810 shares in the company, valued at approximately $5,523,544.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Summit Materials Inc (NYSE SUM) opened at $31.85 on Friday. The company has a market cap of $3,503.18, a price-to-earnings ratio of 35.10, a PEG ratio of 2.02 and a beta of 1.97. The company has a current ratio of 2.59, a quick ratio of 2.01 and a debt-to-equity ratio of 1.48. Summit Materials Inc has a 1 year low of $21.88 and a 1 year high of $32.59.
Summit Materials (NYSE:SUM) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). The firm had revenue of $634.18 million for the quarter, compared to analysts’ expectations of $558.93 million. Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. sell-side analysts anticipate that Summit Materials Inc will post 0.98 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on SUM shares. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. SunTrust Banks set a $38.00 price target on shares of Summit Materials and gave the company a “buy” rating in a research report on Tuesday, October 24th. Bank of America boosted their price target on shares of Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Royal Bank of Canada restated a “buy” rating on shares of Summit Materials in a research report on Thursday, November 2nd. Finally, Canaccord Genuity restated a “buy” rating and set a $12.50 price target on shares of Summit Materials in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.50.
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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