Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Summit Materials (SUM) Stock Price
Media stories about Summit Materials (NYSE:SUM) have trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Summit Materials earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave media coverage about the construction company an impact score of 46.9746167174867 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the headlines that may have impacted Accern Sentiment’s analysis:
- Form 4 Summit Materials, Inc. For: Nov 21 Filed by: Hill Thomas W. (streetinsider.com)
- Summit Materials, Inc. (SUM) Insider Sells $372,500.00 in Stock (americanbankingnews.com)
- Two HR Executives Elected to 2018 SHRM Board of Directors (shrm.org)
- VMware to Present at the Wells Fargo Technology Summit (marketwired.com)
- Report from the Asian Summits: From Official US Alliance Media Scripts to New Perspectives for Change (theaimn.com)
SUM has been the subject of several recent research reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Summit Materials in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Summit Materials from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $35.00 price target on shares of Summit Materials in a research note on Thursday, August 3rd. Bank of America Corporation boosted their price target on Summit Materials from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Finally, SunTrust Banks, Inc. set a $38.00 price target on Summit Materials and gave the company a “buy” rating in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Summit Materials has an average rating of “Hold” and an average price target of $31.42.
Summit Materials (NYSE:SUM) traded down $0.15 during midday trading on Friday, reaching $29.60. The company’s stock had a trading volume of 178,031 shares, compared to its average volume of 1,246,298. The company has a quick ratio of 2.01, a current ratio of 2.59 and a debt-to-equity ratio of 1.48. Summit Materials has a 12-month low of $22.19 and a 12-month high of $32.69. The company has a market capitalization of $3,227.01, a PE ratio of 32.34, a PEG ratio of 2.77 and a beta of 2.04.
Summit Materials (NYSE:SUM) last released its earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.10). Summit Materials had a return on equity of 9.83% and a net margin of 4.09%. The business had revenue of $634.18 million for the quarter, compared to the consensus estimate of $558.93 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. equities research analysts expect that Summit Materials will post 1.02 earnings per share for the current year.
In other Summit Materials news, insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $29.80, for a total transaction of $372,500.00. Following the completion of the sale, the insider now directly owns 214,310 shares in the company, valued at $6,386,438. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas W. Hill sold 6,300 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $30.27, for a total value of $190,701.00. Following the sale, the chief executive officer now owns 170,610 shares of the company’s stock, valued at $5,164,364.70. The disclosure for this sale can be found here. Insiders have sold 271,610 shares of company stock valued at $8,321,282 over the last 90 days. Corporate insiders own 1.97% of the company’s stock.
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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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