Summit Materials Inc. (NYSE:SUM) saw strong trading volume on Friday . 3,579,805 shares changed hands during trading, an increase of 150% from the previous session’s volume of 1,432,666 shares.The stock last traded at $22.14 and had previously closed at $22.42.

Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Summit Materials from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Citigroup Inc. lifted their price target on shares of Summit Materials from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, April 18th. Bank of America Corp. reaffirmed a “buy” rating on shares of Summit Materials in a report on Friday, June 17th. Goldman Sachs Group Inc. lifted their price target on shares of Summit Materials from $22.00 to $25.00 in a report on Friday, April 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Summit Materials from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $25.33.

The company has a market capitalization of $1.39 billion and a price-to-earnings ratio of 57.96. The company has a 50 day moving average of $20.85 and a 200-day moving average of $19.42.

Summit Materials (NYSE:SUM) last released its earnings results on Wednesday, May 4th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.06. The business had revenue of $208 million for the quarter, compared to analyst estimates of $217.75 million. Summit Materials’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) earnings per share. Analysts predict that Summit Materials Inc. will post $1.22 EPS for the current fiscal year.

In other Summit Materials news, Director Howard L. Lance sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $20.67, for a total value of $558,090.00. Following the sale, the director now directly owns 27,000 shares of the company’s stock, valued at approximately $558,090. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas W. Hill sold 183,581 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $20.74, for a total transaction of $3,807,469.94. Following the completion of the sale, the insider now directly owns 10,150 shares in the company, valued at $210,511. The disclosure for this sale can be found here.

Several large investors have recently made changes to their positions in SUM. Russell Frank Co increased its stake in shares of Summit Materials by 244.3% in the fourth quarter. Russell Frank Co now owns 183,054 shares of the company’s stock worth $3,681,000 after buying an additional 129,884 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Summit Materials by 26.6% in the fourth quarter. California State Teachers Retirement System now owns 58,848 shares of the company’s stock worth $1,179,000 after buying an additional 12,375 shares in the last quarter. Swiss National Bank purchased a new stake in shares of Summit Materials during the fourth quarter worth approximately $1,367,000. First Trust Advisors LP increased its stake in shares of Summit Materials by 1.2% in the fourth quarter. First Trust Advisors LP now owns 72,321 shares of the company’s stock worth $1,449,000 after buying an additional 880 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Summit Materials by 351.7% in the fourth quarter. New York State Common Retirement Fund now owns 110,677 shares of the company’s stock worth $2,218,000 after buying an additional 86,177 shares in the last quarter.

Summit Materials, Inc is a construction materials company. The Company operates through three segments: the west segment, which includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming, and in British Columbia, Canada; east segment, which serves markets across the Midwestern and Eastern United States, and Cement segment, which consists of its Hannibal, Missouri and Davenport, Iowa cement plants and approximately eight distribution terminals along the Mississippi River from Minnesota to Louisiana.

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