Revenue Update on Summit Materials Inc(NYSE:SUM)
- Author: Zachary Reyes Feb 25, 2017,
Feb 25, 2017, 3:23
The Q1 2017 consensus earnings estimates for the company have stabilized at US$-0.39 per share. The stock was sold at an average price of $23.61, for a total transaction of $290,403.00. After the session commenced at $24.32, the stock reached the higher end at $24.63 while it hit a low of $23.56. (NYSE:SUM), according to U.S. Securities and Exchange Commission (SEC) filings. The stock price of SUM is moving down from its 20 days moving average with -4.37% and isolated negatively from 50 days moving average with -2.17%. We in no way are suggesting that readers make any decision on Summit Materials Inc (NYSE:SUM) based on the information in this report. The company has a market capitalization of $1.76 billion, a P/E ratio of 37.28 and a beta of 2.28. The company had revenue of $529.40 million for the quarter, compared to analysts' expectations of $483.19 million. Summit Materials had a net margin of 3.99% and a return on equity of 17.05%. The Company offers construction materials and related downstream products. According to WSJ analysis, the Q4 2016 current estimates trends were for $0.25 as compared to the next year Q1 current trend of $-0.39.
Presently Summit Materials, Inc. On 7th Day after earnings release, Summit Materials, Inc. If you are viewing this article on another site, it was illegally stolen and reposted in violation of USA and global copyright & trademark laws.
Summit Materials, Inc. (NYSE:SUM) topped its 52-week high price of $26.46 on Jan 26, 2017 and 52-Week Low Price of $16.28 on Feb 24, 2016.
A number of hedge funds have recently bought and sold shares of SUM. Royal Bank Of Canada lifted their price objective on shares of Summit Materials from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Thursday, November 3rd. The 52-week low of the share price is $16.086956. DA Davidson restated a "buy" rating and set a $27.00 price objective on shares of Summit Materials in a report on Thursday, November 17th. TheStreet upgraded Summit Materials from a "sell" rating to a "hold" rating in a research report on Wednesday, December 21st. Adage Capital Partners GP L.L.C. increased its position in Summit Materials by 67.5% in the third quarter. The price to book ratio of the company for the most recent quarter is 2.19.
Some buy side analysts are also providing their Analysis on Summit Materials, Inc., where 0 analysts have rated the stock as Strong buy, 0 analysts have given a Buy signal, 0 said it's a HOLD, 0 reported it as Underperform and 0 analysts rated the stock as Sell. The stock has a consensus rating of "Hold" and a consensus target price of $24.78.
Several insiders were part of recent insider activity for the stock. The stock is now trading 5.02% above its SMA 50 and 6.03% above its SMA 200. Finally, Zimmer Partners LP increased its stake in Summit Materials by 260.6% in the fourth quarter. Following the sale, the chief financial officer now owns 55,825 shares in the company, valued at approximately $1,318,028.25. Citadel Advisors LLC raised its position in Summit Materials by 147.2% in the third quarter. Pacad Investment Ltd. acquired a new position in Summit Materials during the second quarter worth approximately $133,000. The stock has been given a Buy rating. Following the sale, the insider now owns 10,150 shares in the company, valued at approximately $245,528.50. The Companys materials include aggregates which it supplies across the country with a focus on Texas Kansas Kentucky Utah and Missouri and cement which the Company supplies in Missouri Iowa and IL.