Summit Materials Inc (NYSE:SUM)’s share price traded down 5.6% during trading on Thursday . The stock traded as low as $15.36 and last traded at $15.38. 2,850,786 shares were traded during trading, an increase of 69% from the average session volume of 1,684,610 shares. The stock had previously closed at $16.30.

Several equities analysts recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Summit Materials from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. ValuEngine lowered shares of Summit Materials from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Citigroup reduced their target price on shares of Summit Materials from $38.00 to $37.00 and set a “$25.50” rating on the stock in a report on Monday, July 23rd. Stephens set a $24.00 target price on shares of Summit Materials and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Barclays reduced their target price on shares of Summit Materials from $30.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $30.21.

The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.77 and a beta of 1.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.26 and a current ratio of 2.07.

Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, August 1st. The construction company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.24). The firm had revenue of $549.24 million for 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. Analysts anticipate that Summit Materials Inc will post 0.98 earnings per share for the current year.

In other news, CEO Thomas W. Hill sold 12,500 shares of the firm’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $26.10, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Karl Watson bought 35,500 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was bought 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 approximately $501,255. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of Summit Materials by 55.1% in the 2nd quarter. Bank of Montreal Can now owns 5,698 shares of the construction company’s stock worth $149,000 after purchasing an additional 2,025 shares during the period. GSA Capital Partners LLP purchased a new position in Summit Materials during the 1st quarter valued at about $244,000. Cubist Systematic Strategies LLC lifted its position in Summit Materials by 626.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,605 shares of the construction company’s stock valued at $226,000 after acquiring an additional 7,420 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Summit Materials during the 2nd quarter valued at about $312,000. Finally, Xact Kapitalforvaltning AB lifted its position in Summit Materials by 57.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 14,264 shares of the construction company’s stock valued at $432,000 after acquiring an additional 5,200 shares during the period.

About Summit Materials (NYSE:SUM)

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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