Summit Materials Inc (NYSE:SUM) – SunTrust Banks boosted their Q2 2019 earnings per share (EPS) estimates for Summit Materials in a research note issued on Wednesday, February 13th. SunTrust Banks analyst R. Seth now anticipates that the construction company will earn $0.44 per share for the quarter, up from their prior forecast of $0.41. SunTrust Banks also issued estimates for Summit Materials’ Q3 2019 earnings at $0.69 EPS, FY2019 earnings at $0.80 EPS and FY2020 earnings at $0.92 EPS.

SUM has been the topic of several other reports. Stifel Nicolaus restated a “buy” rating and set a $25.00 price target on shares of Summit Materials in a report on Thursday, November 8th. DA Davidson reduced their price target on Summit Materials to $20.00 and set a “buy” rating on the stock in a report on Wednesday, January 2nd. Citigroup reduced their price target on Summit Materials from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 4th. Zacks Investment Research cut Summit Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 8th. Finally, Royal Bank of Canada set a $18.00 price target on Summit Materials and gave the stock a “buy” rating in a report on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $24.00.

NYSE:SUM opened at $16.24 on Friday. The stock has a market cap of $1.76 billion, a PE ratio of 108.27, a PEG ratio of 1.83 and a beta of 1.88. The company has a current ratio of 2.27, a quick ratio of 1.45 and a debt-to-equity ratio of 1.35. Summit Materials has a 1-year low of $11.25 and a 1-year high of $33.31.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, February 6th. The construction company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.20). The firm had revenue of $491.00 million for the quarter, compared to the consensus estimate of $459.58 million. Summit Materials had a return on equity of 1.34% and a net margin of 1.68%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share.

Institutional investors have recently bought and sold shares of the stock. Pearl River Capital LLC acquired a new position in shares of Summit Materials in the fourth quarter worth approximately $26,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Summit Materials in the fourth quarter worth approximately $64,000. Bank of Montreal Can lifted its stake in shares of Summit Materials by 42.8% in the fourth 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 period. Janney Montgomery Scott LLC acquired a new position in shares of Summit Materials in the fourth quarter worth approximately $139,000. Finally, HRT Financial LLC acquired a new position in shares of Summit Materials in the fourth quarter worth approximately $143,000.

In related news, CFO Brian James Harris acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The shares were bought at an average cost of $13.00 per share, with a total value of $26,000.00. Following the completion of the purchase, the chief financial officer now directly owns 74,584 shares in the company, valued at $969,592. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas A. Beck acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average cost of $13.97 per share, for a total transaction of $139,700.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 14,000 shares of company stock worth $192,460. 1.50% of the stock is owned by insiders.

Summit Materials Company Profile

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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Earnings History and Estimates for Summit Materials (NYSE:SUM)

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