Summit Materials (SUM) Receives Media Impact Rating of 0.18
News stories about Summit Materials (NYSE:SUM) have been trending somewhat positive on Saturday, according to Accern Sentiment Analysis. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Summit Materials earned a daily sentiment score of 0.18 on Accern’s scale. Accern also gave news stories about the construction company an impact score of 45.3809507315142 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- Douglas Charles Rauh Sells 100,000 Shares of Summit Materials, Inc. (SUM) Stock (americanbankingnews.com)
- Summit Materials Inc (finance.yahoo.com)
- IHS Markit Score Update: Drop in demand for ETFs holding Summit Materials Inc is a negative sign for its shares (finance.yahoo.com)
- See what the IHS Markit Score report has to say about Summit Materials Inc. (finance.yahoo.com)
- Summit Materials, Inc. (SUM) Expected to Post Quarterly Sales of $561.79 Million (americanbankingnews.com)
Shares of Summit Materials (NYSE SUM) traded down 1.57% during mid-day trading on Friday, hitting $28.15. 849,348 shares of the stock traded hands. The firm’s 50 day moving average price is $28.76 and its 200 day moving average price is $26.37. Summit Materials has a 12-month low of $17.48 and a 12-month high of $29.72. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 62.56 and a beta of 2.06.
Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.09. The company had revenue of $478.37 million during the quarter, compared to analysts’ expectations of $469.91 million. Summit Materials had a net margin of 2.46% and a return on equity of 9.90%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, equities research analysts predict that Summit Materials will post $1.23 EPS for the current fiscal year.
SUM has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Summit Materials from a “sell” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, May 9th. BidaskClub raised shares of Summit Materials from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. TheStreet cut shares of Summit Materials from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Longbow Research initiated coverage on shares of Summit Materials in a report on Thursday, June 8th. They issued a “buy” rating and a $34.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Summit Materials in a report on Monday, June 19th. One investment 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 a consensus rating of “Buy” and a consensus price target of $30.43.
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In related news, insider Thomas W. Hill sold 250,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $29.30, for a total value of $7,325,000.00. Following the sale, the insider now directly owns 70,610 shares of the company’s stock, valued at approximately $2,068,873. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas W. Hill sold 6,300 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $28.74, for a total transaction of $181,062.00. Following the completion of the sale, the chief executive officer now directly owns 20,610 shares in the company, valued at $592,331.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 486,447 shares of company stock worth $14,034,775. 1.97% of the stock is owned by corporate insiders.
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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