Summit Materials Inc (NYSE:SUM) – SunTrust Banks reduced their Q4 2018 earnings per share (EPS) estimates for shares of Summit Materials in a research note issued on Wednesday, October 10th. SunTrust Banks analyst R. Seth now anticipates that the construction company will earn $0.25 per share for the quarter, down from their prior estimate of $0.37.

Other equities research analysts have also issued reports about the company. Citigroup lowered their price target on Summit Materials from $38.00 to $37.00 and set a “$25.50” rating for the company in a research report on Monday, July 23rd. DA Davidson set a $28.00 price target on Summit Materials and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus lowered their price target on 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 price target on Summit Materials and gave the company a “buy” rating in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $35.00 price target on shares of Summit Materials in a research report on Sunday, July 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.21.

NYSE SUM opened at $15.59 on Thursday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.77 and a beta of 1.52. Summit Materials has a 12 month low of $15.36 and a 12 month high of $34.06. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 1.41.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, August 1st. The construction company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 5.16% and a return on equity of 8.54%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share.

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC grew its stake in shares of Summit Materials by 626.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,605 shares of the construction company’s stock worth $226,000 after acquiring an additional 7,420 shares during the period. Osterweis Capital Management Inc. grew its stake in shares of Summit Materials by 99.3% during the 2nd quarter. Osterweis Capital Management Inc. now owns 220,425 shares of the construction company’s stock worth $5,786,000 after acquiring an additional 109,825 shares during the period. Luminus Management LLC grew its stake in shares of Summit Materials by 41.0% during the 2nd quarter. Luminus Management LLC now owns 2,120,263 shares of the construction company’s stock worth $55,657,000 after acquiring an additional 616,795 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Summit Materials by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 689,894 shares of the construction company’s stock worth $18,110,000 after acquiring an additional 41,526 shares during the period. Finally, Clearfield Capital Management LP grew its stake in shares of Summit Materials by 13.6% during the 2nd quarter. Clearfield Capital Management LP now owns 754,188 shares of the construction company’s stock worth $19,797,000 after acquiring an additional 90,000 shares during the period.

In other news, CEO Thomas W. Hill sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $26.10, for a total transaction of $326,250.00. Following the completion of the sale, the chief executive officer now directly owns 110,602 shares of the company’s stock, valued at approximately $2,886,712.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Karl Watson bought 35,500 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were acquired at an average cost of $21.15 per share, with a total value of $750,825.00. Following the completion of the transaction, the chief operating officer now owns 23,700 shares in the company, valued at $501,255. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Summit Materials Company Profile

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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Earnings History and Estimates for Summit Materials (NYSE:SUM)

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