Analysts Set Summit Materials Inc (SUM) Target Price at $21.82
Summit Materials Inc (NYSE:SUM) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $22.00.
SUM has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $23.00 target price on shares of Summit Materials in a report on Wednesday, December 19th. DA Davidson cut their price objective on shares of Summit Materials to $20.00 and set a “buy” rating for the company in a research report on Wednesday, January 2nd. Citigroup cut their price objective on shares of Summit Materials from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 4th. Zacks Investment Research lowered shares of Summit Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 8th. Finally, Scotiabank reissued a “hold” rating on shares of Summit Materials in a research report on Thursday, February 14th.
In related news, CEO Thomas W. Hill bought 31,250 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was purchased at an average cost of $16.25 per share, for a total transaction of $507,812.50. Following the completion of the acquisition, the chief executive officer now owns 135,652 shares in the company, valued at $2,204,345. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.
NYSE SUM traded up $0.09 during trading on Wednesday, hitting $15.72. The stock had a trading volume of 60,843 shares, compared to its average volume of 1,940,898. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.27 and a quick ratio of 1.45. The company has a market cap of $1.75 billion, a P/E ratio of 104.50, a PEG ratio of 1.69 and a beta of 1.90. Summit Materials has a one year low of $11.25 and a one year high of $31.36.
Summit Materials (NYSE:SUM) last posted its quarterly earnings results on Wednesday, February 6th. The construction company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.20). Summit Materials had a net margin of 1.68% and a return on equity of 1.34%. The company had revenue of $491.00 million for the quarter, compared to the consensus estimate of $459.58 million. During the same period in the prior year, the firm posted $0.43 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts expect that Summit Materials will post 0.81 EPS for the current year.
Summit Materials Company Profile
Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.
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