News stories about Summit Materials (NYSE:SUM) have been trending somewhat positive recently, Accern Sentiment Analysis reports. The research firm rates the sentiment of news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Summit Materials earned a daily sentiment score of 0.21 on Accern’s scale. Accern also gave media stories about the construction company an impact score of 47.7070042898143 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
A number of equities analysts have weighed in on SUM shares. Goldman Sachs upgraded shares of Summit Materials from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th. Citigroup upped their price objective on shares of Summit Materials from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Barclays started coverage on shares of Summit Materials in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $32.00 price objective for the company. Zacks Investment Research cut shares of Summit Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Finally, Royal Bank of Canada set a $37.00 price objective on shares of Summit Materials and gave the stock a “buy” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $33.28.
Shares of NYSE SUM traded down $0.80 during mid-day trading on Friday, reaching $28.90. The company’s stock had a trading volume of 692,094 shares, compared to its average volume of 1,260,400. The stock has a market capitalization of $3,255.77, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.71. The company has a quick ratio of 2.40, a current ratio of 3.13 and a debt-to-equity ratio of 1.42. Summit Materials has a 1-year low of $24.18 and a 1-year high of $34.06.
In related news, insider Thomas W. Hill sold 12,500 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $31.24, for a total value of $390,500.00. Following the completion of the sale, the insider now owns 176,810 shares of the company’s stock, valued at $5,523,544.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas W. Hill sold 447,959 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $31.02, for a total transaction of $13,895,688.18. Following the completion of the sale, the chief executive officer now directly owns 146,245 shares of the company’s stock, valued at approximately $4,536,519.90. The disclosure for this sale can be found here. Insiders sold 601,883 shares of company stock valued at $18,758,351 over the last quarter. Company insiders own 1.97% of the company’s stock.
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About Summit Materials
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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