Media headlines about Summit Materials (NYSE:SUM) have been trending somewhat positive recently, according to Accern. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Summit Materials earned a news impact score of 0.11 on Accern’s scale. Accern also assigned media coverage about the construction company an impact score of 47.1266730142957 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Summit Materials, Inc. (SUM) CEO Thomas W. Hill Sells 6,300 Shares (americanbankingnews.com)
- Summit Materials, Inc. (SUM) CEO Sells $186,248.00 in Stock (americanbankingnews.com)
- Summit Materials, Inc. (SUM) Insider Thomas A. Beck Sells 17,899 Shares (americanbankingnews.com)
- Thomas A. Beck Sells 19,459 Shares of Summit Materials, Inc. (SUM) Stock (americanbankingnews.com)
- Summit Materials, Inc. Class A (NYSE:SUM) Sees Heavy Trading Volume with 1,221K Shares Changing Hands (highlightpress.com)
Shares of Summit Materials (NYSE:SUM) opened at 30.62 on Monday. Summit Materials has a 52-week low of $17.27 and a 52-week high of $30.90. The firm’s 50 day moving average price is $28.77 and its 200 day moving average price is $26.90. The stock has a market cap of $3.29 billion, a P/E ratio of 68.04 and a beta of 2.05.
Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.09. The business had revenue of $478.37 million for the quarter, compared to analysts’ expectations of $469.91 million. Summit Materials had a return on equity of 9.90% and a net margin of 2.46%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, analysts expect that Summit Materials will post $1.22 EPS for the current year.
Several equities analysts recently commented on SUM shares. TheStreet upgraded Summit Materials from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $35.00 price objective on shares of Summit Materials in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $33.00 price objective on shares of Summit Materials in a research note on Monday, June 19th. BidaskClub upgraded Summit Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Longbow Research started coverage on Summit Materials in a research note on Thursday, June 8th. They issued a “buy” rating and a $34.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Summit Materials currently has an average rating of “Buy” and a consensus target price of $30.43.
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In other news, CEO Thomas W. Hill sold 6,200 shares of Summit Materials stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.04, for a total transaction of $186,248.00. Following the transaction, the chief executive officer now owns 170,610 shares in the company, valued at approximately $5,125,124.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anne Lee Benedict sold 7,500 shares of Summit Materials stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $28.48, for a total transaction of $213,600.00. Following the transaction, the insider now owns 11,213 shares in the company, valued at approximately $319,346.24. The disclosure for this sale can be found here. Insiders have sold a total of 531,879 shares of company stock worth $15,496,565 in the last quarter. Corporate insiders own 1.97% of the company’s stock.
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.
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