Summit Materials (SUM) Given Daily Media Impact Score of 0.05
Headlines about Summit Materials (NYSE:SUM) have been trending somewhat positive on Friday, Accern reports. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Summit Materials earned a news sentiment score of 0.05 on Accern’s scale. Accern also gave news coverage about the construction company an impact score of 47.4992160514487 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern’s analysis:
- Back by Popular Demand: Covestro to Host Second Annual THINC30 Summit This Fall (csrwire.com)
- USDA featured at Morgan Pro 15 summit (journal-advocate.com)
- Waste center, home rebuilding addressed at Safe Waste Summit (virginislandsdailynews.com)
- Investors Purchase High Volume of Summit Materials Put Options (SUM) (americanbankingnews.com)
- Summit Materials Inc (SUM) Expected to Post Quarterly Sales of $650.55 Million (americanbankingnews.com)
A number of research firms recently issued reports on SUM. Stifel Nicolaus dropped their target price on shares of Summit Materials from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, August 3rd. Stephens set a $24.00 target price on shares of Summit Materials and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Barclays dropped their target price on shares of Summit Materials from $30.00 to $24.00 and set an “equal weight” rating for the company in a research report on Thursday, August 2nd. Royal Bank of Canada dropped their target price on shares of Summit Materials to $27.00 and set an “outperform” rating for the company in a research report on Thursday, August 2nd. Finally, ValuEngine downgraded shares of Summit Materials from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Summit Materials presently has an average rating of “Buy” and a consensus price target of $30.41.
Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, August 1st. The construction company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.24). The company had revenue of $549.24 million during the quarter, compared to analysts’ expectations of $546.76 million. Summit Materials had a return on equity of 8.54% and a net margin of 5.16%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 EPS. sell-side analysts forecast that Summit Materials will post 1.16 earnings per share for the current fiscal year.
In related news, COO Karl Watson purchased 35,500 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was purchased at an average price of $21.15 per share, for a total transaction of $750,825.00. Following the acquisition, the chief operating officer now directly owns 23,700 shares in the company, valued at $501,255. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $27.41, for a total value of $342,625.00. Following the completion of the transaction, the chief executive officer now owns 148,102 shares of the company’s stock, valued at approximately $4,059,475.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,500 shares of company stock valued at $1,704,875. 1.50% of the stock is owned by company insiders.
About Summit Materials
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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