Somewhat Positive Press Coverage Somewhat Unlikely to Affect Summit Materials (SUM) Share Price
Media stories about Summit Materials (NYSE:SUM) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Summit Materials earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave news coverage about the construction company an impact score of 46.1560953442385 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
A number of brokerages recently issued reports on SUM. Zacks Investment Research cut Summit Materials from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. 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. Bank of America lifted their target price on Summit Materials from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Royal Bank of Canada restated a “buy” rating on shares of Summit Materials in a report on Thursday, November 2nd. Finally, Barclays began coverage on Summit Materials in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $32.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $31.50.
Shares of Summit Materials (SUM) traded down $0.14 during midday trading on Tuesday, hitting $31.60. The company had a trading volume of 727,941 shares, compared to its average volume of 1,170,817. The company has a quick ratio of 2.01, a current ratio of 2.59 and a debt-to-equity ratio of 1.48. The firm has a market cap of $3,600.00 and a PE ratio of 46.47. Summit Materials has a twelve month low of $22.19 and a twelve month high of $32.69.
Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.10). Summit Materials had a net margin of 4.09% and a return on equity of 9.83%. The business had revenue of $634.18 million for the quarter, compared to analysts’ expectations of $558.93 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. sell-side analysts expect that Summit Materials will post 0.97 EPS for the current year.
In other news, EVP Damian John Murphy sold 115,118 shares of Summit Materials stock in a transaction on Monday, December 11th. The stock was sold at an average price of $31.75, for a total transaction of $3,654,996.50. Following the transaction, the executive vice president now owns 66,440 shares in the company, valued at $2,109,470. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $32.12, for a total value of $401,500.00. Following the transaction, the insider now owns 139,310 shares in the company, valued at approximately $4,474,637.20. The disclosure for this sale can be found here. Insiders have sold 203,942 shares of company stock worth $6,396,392 in the last quarter. 1.97% of the stock is currently owned by corporate insiders.
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Summit Materials Company Profile
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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