Summit Materials, Inc. (NYSE:SUM) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.

Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Summit Materials from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $35.00 target price on shares of Summit Materials in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $33.00 target price on shares of Summit Materials in a research note on Monday, June 19th. Longbow Research initiated coverage on shares of Summit Materials in a research note on Thursday, June 8th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Zacks Investment Research raised shares of Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.43.

Shares of Summit Materials (NYSE SUM) opened at 29.33 on Thursday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 49.97 and a beta of 2.06. Summit Materials has a 52 week low of $17.48 and a 52 week high of $29.72. The firm has a 50 day moving average of $28.72 and a 200 day moving average of $26.33.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.09. The firm had revenue of $478.37 million during the quarter, compared to analyst estimates of $469.91 million. Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. Summit Materials’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. Equities analysts predict that Summit Materials will post $1.23 earnings per share for the current fiscal year.

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In related news, insider Thomas W. Hill sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $29.30, for a total transaction of $7,325,000.00. Following the completion of the sale, the insider now directly owns 70,610 shares of the company’s stock, valued at $2,068,873. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas Charles Rauh sold 19,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $26.81, for a total transaction of $509,390.00. Following the sale, the insider now directly owns 26,313 shares of the company’s stock, valued at $705,451.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 398,947 shares of company stock valued at $11,502,275. Insiders own 1.97% of the company’s stock.

Several large investors have recently bought and sold shares of SUM. Dimension Capital Management Partners acquired a new stake in Summit Materials during the second quarter worth $386,000. State of Tennessee Treasury Department increased its stake in Summit Materials by 28.4% in the second quarter. State of Tennessee Treasury Department now owns 128,432 shares of the construction company’s stock worth $3,708,000 after buying an additional 28,432 shares during the period. Artemis Investment Management LLP increased its stake in Summit Materials by 1.1% in the second quarter. Artemis Investment Management LLP now owns 379,454 shares of the construction company’s stock worth $10,953,000 after buying an additional 4,066 shares during the period. Swiss National Bank increased its stake in Summit Materials by 1.7% in the second quarter. Swiss National Bank now owns 177,396 shares of the construction company’s stock worth $5,121,000 after buying an additional 3,000 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its stake in Summit Materials by 52.6% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 12,616 shares of the construction company’s stock worth $364,000 after buying an additional 4,349 shares during the period.

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.

Analyst Recommendations for Summit Materials (NYSE:SUM)

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