Revenue Update on Summit Materials Inc(NYSE:SUM)

Summit Materials Inc(NYSE:SUM) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 22, 2017. 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. Analysts estimated a revenue of $385.350M. The revenues were 0.53% above the estimates. Earnings per share were $0.21. The reported EPS was below estimates by -19.23%. Analysts had estimated an EPS of $0.26.

In a different note, SunTrust Robinson Humphrey said it Initiates Coverage On Summit Materials Inc, according to a research note issued on Jan 20, 2017. In the research note, the firm Announces the price-target to $30 per share. The shares have been rated ‘Buy’ by the firm.

Summit Materials Inc (SUM) shares turned negative on Wednesdays trading session with the shares closing down -0.49 points or -2.02% at a volume of 26,56,462. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $24.63. The peak price level was also seen at $24.63 while the days lowest was $23.56. Finally the shares closed at $23.8. The 52-week high of the shares is $26.46 while the 52-week low is $16.086956. According to the latest information available, the market cap of the company is $2,968 M.

Several Insider Transactions has been reported to the SEC. On Feb 21, 2017, Thomas W. Hill (President and CEO) sold 10,000 shares at $23.94 per share price.Also, On Dec 19, 2016, Brian James Harris (EVP & Chief Financial Officer) sold 24,000 shares at $23.61 per share price.On Dec 19, 2016, Michael John Brady (officer ) sold 112,825 shares at $23.76 per share price, according to the Form-4 filing with the securities and exchange commission.

Summit Materials Inc. is a construction material company. The Company offers construction materials and related downstream products. The Company’s 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 Illinois. In addition to supplying aggregates it uses its materials to produce ready-mixed concrete and asphalt paving mix. The Company operates through three segments: West Central and East. The Company’s West region includes operations in Texas the Mountain states of Utah Colorado Idaho and Wyoming and in British Columbia Canada. The Company’s Central region extends across the Midwestern United States including Kansas Missouri Nebraska Iowa and Illinois. The Company’s East region serves markets in Kentucky South Carolina North Carolina Tennessee and Virginia.

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