Analyst Research Summary: Summit Materials, Inc. (NYSE:SUM)
Feb 25 2017 by Johnny Bowman
The stock was sold at an average price of $23.61, for a total transaction of $566,640.00. The company's shares were closed at $23.80. (NYSE:SUM), according to U.S. Securities and Exchange Commission (SEC) filings. The stock's 50 day moving average price is $23.94 and its 200 day moving average price is $20.90. Summit Materials Inc has a 1-year low of $16.67 and a 1-year high of $26.46. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $387.389M. The stock traded at a volume of 2.64 million shares.
Summit Materials, Inc. has received $0.23 as the consensus Earnings Estimate for the Quarter ending on Dec 2016, According to the estimate provided by 4 Financial Advisor in the Stock Trading Firms. The analyst projections are -$0.43 in EPS on $237.17 million in revenues. The company reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. EPS or Earning per Share stands at $0.83.
The analysts offering 12 month price targets for Summit Materials, Inc. have a median target of $28.66, with a high estimate of $30 and a low estimate of $22.73.
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Summit Materials, Inc. (NYSE:SUM) share price decreased in the last trading session with a previous 52-week high of $26.46. DA Davidson restated a "buy" rating and issued a $27.00 target price on shares of Summit Materials in a research note on Thursday, November 17th. Finally, TheStreet upgraded shares of Summit Materials from a "sell" rating to a "hold" rating in a research note on Wednesday, December 21st. Summit Materials, Inc.is headquartered in Denver, Colorado. Price changes resulting from an earnings surprise can be felt immediately. And a quick view of analyst notes show that 0 are rating the stock a buy while 0 rate SUM a strong buy.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC increased its position in Summit Materials by 17.8% in the third quarter. Analysts believe that we could see stock price minimum in the $24.7 range (lowest target price), allowing for another 6.05% jump from its current position. Finally, Nationwide Fund Advisors boosted its position in Summit Materials by 100.3% in the second quarter. Following the sale, the chief executive officer now owns 10,150 shares in the company, valued at approximately $195,489.
In related news, CEO Thomas W. Hill sold 15,000 shares of the company's stock in a transaction dated Monday, October 24th. Artemis Investment Management LLP raised its position in Summit Materials by 2.5% in the fourth quarter. (NYSE:SUM)'s Buy count is 1 and Strong Buy is 4 while the number of analysts recommending Sell and Strong Sell are 0 and 1, respectively.
To accommodate long-term intention, the firm has diverse dividend or yield record, WM has Dividend Yield of 2.33% and experts calculate Return on Investment of 11.30%. Following the transaction, the insider now directly owns 10,150 shares in the company, valued at approximately $239,540.