Brokerages predict that Summit Materials Inc (NYSE:SUM) will report sales of $478.96 million for the current quarter, Zacks reports. Five analysts have made estimates for Summit Materials’ earnings. The highest sales estimate is $542.05 million and the lowest is $451.60 million. Summit Materials reported sales of $490.02 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The company is scheduled to announce its next earnings results on Wednesday, February 13th.

On average, analysts expect that Summit Materials will report full-year sales of $1.97 billion for the current fiscal year, with estimates ranging from $1.92 billion to $2.15 billion. For the next financial year, analysts forecast that the firm will report sales of $2.14 billion, with estimates ranging from $2.05 billion to $2.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Summit Materials.

Summit Materials (NYSE:SUM) last released its earnings results on Tuesday, November 6th. The construction company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.21). The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $638.93 million. Summit Materials had a net margin of 4.64% and a return on equity of 6.74%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share.

SUM has been the subject of several research reports. Stifel Nicolaus dropped their target price 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. ValuEngine cut Summit Materials from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 11th. Royal Bank of Canada set a $18.00 price objective on Summit Materials and gave the company a “buy” rating in a research note on Wednesday, November 7th. Stephens set a $21.00 price objective on Summit Materials and gave the company a “buy” rating in a research note on Wednesday, October 17th. Finally, Citigroup set a $21.00 price objective on Summit Materials and gave the company a “buy” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Summit Materials has an average rating of “Buy” and an average target price of $26.70.

NYSE SUM traded up $0.57 during trading on Friday, hitting $14.12. The stock had a trading volume of 1,527,583 shares, compared to its average volume of 2,013,415. The company has a market cap of $1.55 billion, a P/E ratio of 15.18, a P/E/G ratio of 3.05 and a beta of 1.80. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.30 and a quick ratio of 1.50. Summit Materials has a twelve month low of $11.67 and a twelve month high of $34.06.

In other Summit Materials news, CFO Brian James Harris bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The stock was purchased at an average price of $14.12 per share, for a total transaction of $70,600.00. Following the completion of the purchase, the chief financial officer now directly owns 72,584 shares in the company, valued at $1,024,886.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SUM. Janus Henderson Group PLC lifted its stake in Summit Materials by 47.0% during the third quarter. Janus Henderson Group PLC now owns 8,620,282 shares of the construction company’s stock worth $156,717,000 after purchasing an additional 2,758,136 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in Summit Materials during the second quarter worth approximately $50,352,000. Eagle Asset Management Inc. lifted its stake in Summit Materials by 195.5% during the second quarter. Eagle Asset Management Inc. now owns 2,876,811 shares of the construction company’s stock worth $75,516,000 after purchasing an additional 1,903,266 shares during the last quarter. Luminus Management LLC lifted its stake in Summit Materials by 66.8% during the third quarter. Luminus Management LLC now owns 3,536,307 shares of the construction company’s stock worth $64,290,000 after purchasing an additional 1,416,044 shares during the last quarter. Finally, Ashler Capital LLC purchased a new stake in Summit Materials during the second quarter worth approximately $21,188,000.

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.

Recommended Story: Hedge Funds

Get a free copy of the Zacks research report on Summit Materials (SUM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter.