Summit Materials (SUM) to Release Quarterly Earnings on Wednesday

Summit Materials (NYSE:SUM) will likely be issuing its quarterly earnings data before the market opens on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.38 per share and revenue of $1.00 billion for the quarter.

Summit Materials Stock Up 0.2 %

NYSE:SUM opened at $52.53 on Tuesday. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock’s fifty day moving average price is $51.45 and its two-hundred day moving average price is $45.13. Summit Materials has a 52-week low of $34.64 and a 52-week high of $54.07.

Insider Activity

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total value of $78,197.76. Following the completion of the transaction, the insider now directly owns 40,221 shares of the company’s stock, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SUM. DA Davidson increased their target price on Summit Materials from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Loop Capital reissued a “hold” rating and set a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. StockNews.com initiated coverage on shares of Summit Materials in a report on Friday. They issued a “sell” rating on the stock. Longbow Research restated a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Stephens lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.54.

Summit Materials Company Profile

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.