Summit Materials Inc (NYSE:SUM) CEO Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $27.62, for a total transaction of $345,250.00. Following the completion of the transaction, the chief executive officer now directly owns 135,602 shares in the company, valued at approximately $3,745,327.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
NYSE:SUM traded down $0.88 on Thursday, reaching $26.85. 594,500 shares of the company’s stock were exchanged, compared to its average volume of 1,293,934. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.17 and a quick ratio of 1.37. The firm has a market capitalization of $3.09 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 1.67 and a beta of 1.71. Summit Materials Inc has a 52-week low of $26.36 and a 52-week high of $34.06.
Summit Materials (NYSE:SUM) last issued its quarterly earnings results on Tuesday, May 8th. The construction company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.04. The company had revenue of $289.92 million for the quarter, compared to analyst estimates of $297.51 million. Summit Materials had a net margin of 6.03% and a return on equity of 10.20%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.49) earnings per share. analysts expect that Summit Materials Inc will post 1.58 EPS for the current fiscal year.
A number of research analysts have commented on the stock. SunTrust Banks decreased their target price on shares of Summit Materials from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, May 30th. Zacks Investment Research cut shares of Summit Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. ValuEngine cut shares of Summit Materials from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. TheStreet raised shares of Summit Materials from a “c” rating to a “b” rating in a research report on Monday, March 19th. Finally, Jefferies Financial Group assumed coverage on shares of Summit Materials in a research report on Tuesday, April 17th. They issued a “buy” rating and a $36.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $33.15.
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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