EVP & CFO Harris Brian James acquired 4,000 shares in Summit Materials, Inc. (NYSE:SUM) for $136,584 in transaction occurred on 2018/12/10. After making this transaction, the EVP & CFO owns a direct stake of 52,760 shares, worth $2,167,588, as per the last closing price. On 2018/11/19 Beck Thomas A., purchased 10,000 shares at an average price of $13.97 per share. The new stake is valued at $204,945.
Separately, it had been reported that some other SUM insiders also took part of the insider trading activity. EVP & CFO, Harris Brian James had invested in 5,000 shares for $132,584 through a trade on 2018/11/08. Following this activity, the insider holds 70,600 shares worth $2,104,108 as of recent close. Wall Street’s most bullish Summit Materials, Inc. (NYSE:SUM) analysts are predicting the share price to blow past $23 per share during the next 12 months. The current median share price forecast by them is $20, suggesting that the stock could increase 26.02% in that time frame. The average price target of $19.33 calls for a nearly 21.8% increase in the stock price.
Summit Materials, Inc. (SUM) trading activity significantly improved as the volume at ready counter increased to 3,650,366 shares versus 1,929,890 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 1,793,800 shares. The share price rose 0.25% in recent trade and currently has a stock-market value of $1.78B. The shares finished at $15.87, after trading as low as $15.85 earlier in the session. It hit an intraday high Tuesday at $16.39. The stock is now 41.07% above against its bear-market low of $11.25 on December 24, 2018. It has retreated -109.89% since it’s 52-week high of $33.31 reached in February. Now the market price is down -44.99% on the year and up 27.98% YTD.
SUM’s 50 day simple moving average (SMA 50) price is $13.94 and its 200-day simple moving average (SMA 200) price is $19.85. The company’s stock currently has a total float of 111.26M shares. Its weekly volatility is hovering around 5.86% and felt 4.87% volatility in price over a month. On the upside, the share price will test short term resistance at around $16.22. On a downside, the stock is likely to find some support, which begins at $15.68. The failure to get near-term support could push it to $15.5.
It had seen a change in price target from analysts at Stifel, who reiterated the stock at Buy on August 03 but moved PT from $38 to $34. Analysts at Jefferies, started covering the stock on April 17 with a Buy rating. The stock won favor of Goldman analysts who expressed their confidence in it using an upgrade from Neutral to Buy on February 27.
When looking at valuations, Summit Materials, Inc. (SUM) has a cheap P/E of 35.03x as compared to industry average of 43.72x. Moreover, it trades for 13.36 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.33x price/book and 0.85x price/sales. Compared to others, Summit Materials, Inc. is in a different league with regards to profitability, having net margins of 1.6%. To put some perspective around this, the industry’s average net margin is 7.51%. SUM’s ROE is 2.6%, which is also considerably worse than the industry’s ROE of 6.09%. It’s also very liquid in the near term, with a current ratio of 2.3. The stock has a debt/capital of 1.38.
Shares of Summit Materials, Inc. (SUM) have dropped -1.7% since the company’s last earnings report. Over the past 12 fiscal quarters, Summit Materials, Inc. (NYSE:SUM) has topped consensus earnings estimates in 4 quarters (33%), missed earnings in 7 quarters (58%), whereas at 1 occasion EPS met analyst expectations. SUM last reported earnings on February 06, 2019 when it released Dec-18 results that receded expectations. The company raked in -$0.16 per share, -100.05% change on the same period last year. That was worse than consensus for $0.08. Revenue for the recent quarter stood at $445.09 million, up 1% on last year and below the $454.64 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $298.4 million to $337.31 million, which should be compared with $350.8 million generated last year. EPS is seen in a range of -$6.90E-01 to -$0.41, against the 0 reported a year ago.