TheStreet upgraded shares of Summit Materials (NYSE:SUM) from a c rating to a b rating in a research report released on Monday morning.

A number of other analysts have also weighed in on SUM. Barclays initiated coverage on shares of Summit Materials in a research note on Tuesday, December 12th. They issued an equal weight rating and a $32.00 price objective on the stock. Zacks Investment Research upgraded shares of Summit Materials from a strong sell rating to a hold rating in a research note on Friday, January 5th. Citigroup increased their price objective on shares of Summit Materials from $37.00 to $39.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Deutsche Bank increased their price objective on shares of Summit Materials from $35.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada set a $37.00 price objective on shares of Summit Materials and gave the stock a buy rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Summit Materials has a consensus rating of Buy and a consensus target price of $33.28.

Shares of Summit Materials stock opened at $31.08 on Monday. The firm has a market cap of $3,445.59, a price-to-earnings ratio of 29.58, a PEG ratio of 1.98 and a beta of 1.72. Summit Materials has a 52 week low of $22.19 and a 52 week high of $34.06. The company has a quick ratio of 2.40, a current ratio of 3.13 and a debt-to-equity ratio of 1.42.

Summit Materials (NYSE:SUM) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.24. The firm had revenue of $490.02 million for the quarter, compared to analyst estimates of $449.45 million. Summit Materials had a net margin of 6.19% and a return on equity of 11.51%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. research analysts forecast that Summit Materials will post 1.51 EPS for the current fiscal year.

In other news, CEO Thomas W. Hill sold 447,959 shares of Summit Materials stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $31.02, for a total value of $13,895,688.18. Following the sale, the chief executive officer now owns 146,245 shares in the company, valued at $4,536,519.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas W. Hill sold 12,500 shares of Summit Materials stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $31.53, for a total transaction of $394,125.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 589,383 shares of company stock worth $18,379,851. 1.97% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can grew its position in shares of Summit Materials by 310.5% in the fourth quarter. Bank of Montreal Can now owns 3,325 shares of the construction company’s stock valued at $104,000 after purchasing an additional 2,515 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Summit Materials in the third quarter valued at about $180,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Summit Materials by 39.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,998 shares of the construction company’s stock valued at $220,000 after purchasing an additional 1,985 shares during the period. Global X Management Co. LLC grew its position in shares of Summit Materials by 77.6% in the fourth quarter. Global X Management Co. LLC now owns 7,585 shares of the construction company’s stock valued at $238,000 after purchasing an additional 3,315 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Summit Materials in the third quarter valued at about $268,000.

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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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