Intrinsic value of Summit Materials Cl A - SUM

Previous Close

$13.08

  Intrinsic Value

$26.25

stock screener

  Rating & Target

str. buy

+101%

Previous close

$13.08

 
Intrinsic value

$26.25

 
Up/down potential

+101%

 
Rating

str. buy

We calculate the intrinsic value of SUM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.70
  13.73
  12.86
  12.07
  11.36
  10.73
  10.15
  9.64
  9.18
  8.76
  8.38
  8.04
  7.74
  7.47
  7.22
  7.00
  6.80
  6.62
  6.46
  6.31
  6.18
  6.06
  5.96
  5.86
  5.77
  5.70
  5.63
  5.56
  5.51
  5.46
Revenue, $m
  2,217
  2,521
  2,845
  3,189
  3,551
  3,932
  4,331
  4,749
  5,184
  5,638
  6,111
  6,603
  7,114
  7,645
  8,197
  8,770
  9,366
  9,986
  10,631
  11,302
  12,000
  12,727
  13,485
  14,275
  15,100
  15,960
  16,858
  17,796
  18,776
  19,801
Variable operating expenses, $m
  1,720
  1,942
  2,178
  2,428
  2,692
  2,970
  3,261
  3,565
  3,882
  4,213
  4,452
  4,810
  5,182
  5,569
  5,971
  6,389
  6,823
  7,275
  7,745
  8,233
  8,742
  9,272
  9,824
  10,400
  11,000
  11,627
  12,281
  12,964
  13,678
  14,425
Fixed operating expenses, $m
  206
  211
  216
  220
  225
  230
  235
  240
  246
  251
  257
  262
  268
  274
  280
  286
  292
  299
  305
  312
  319
  326
  333
  341
  348
  356
  364
  372
  380
  388
Total operating expenses, $m
  1,926
  2,153
  2,394
  2,648
  2,917
  3,200
  3,496
  3,805
  4,128
  4,464
  4,709
  5,072
  5,450
  5,843
  6,251
  6,675
  7,115
  7,574
  8,050
  8,545
  9,061
  9,598
  10,157
  10,741
  11,348
  11,983
  12,645
  13,336
  14,058
  14,813
Operating income, $m
  290
  368
  451
  540
  634
  732
  835
  944
  1,057
  1,174
  1,402
  1,530
  1,663
  1,802
  1,945
  2,095
  2,250
  2,412
  2,581
  2,756
  2,939
  3,129
  3,328
  3,535
  3,751
  3,977
  4,213
  4,460
  4,718
  4,988
EBITDA, $m
  575
  678
  788
  904
  1,027
  1,157
  1,293
  1,435
  1,583
  1,738
  1,899
  2,067
  2,241
  2,423
  2,611
  2,808
  3,012
  3,224
  3,445
  3,675
  3,914
  4,164
  4,424
  4,695
  4,978
  5,274
  5,583
  5,906
  6,244
  6,597
Interest expense (income), $m
  83
  118
  142
  168
  195
  225
  255
  288
  322
  357
  394
  432
  473
  514
  558
  603
  650
  698
  749
  801
  856
  913
  972
  1,034
  1,098
  1,165
  1,235
  1,308
  1,385
  1,464
  1,547
Earnings before tax, $m
  172
  226
  284
  345
  409
  477
  548
  622
  700
  780
  970
  1,058
  1,149
  1,244
  1,343
  1,445
  1,552
  1,663
  1,779
  1,900
  2,026
  2,157
  2,294
  2,437
  2,586
  2,742
  2,905
  3,075
  3,254
  3,440
Tax expense, $m
  46
  61
  77
  93
  110
  129
  148
  168
  189
  211
  262
  286
  310
  336
  363
  390
  419
  449
  480
  513
  547
  582
  619
  658
  698
  740
  784
  830
  878
  929
Net income, $m
  126
  165
  207
  252
  299
  348
  400
  454
  511
  570
  708
  772
  839
  908
  980
  1,055
  1,133
  1,214
  1,299
  1,387
  1,479
  1,575
  1,675
  1,779
  1,888
  2,002
  2,121
  2,245
  2,375
  2,511

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,182
  4,757
  5,368
  6,016
  6,700
  7,419
  8,172
  8,960
  9,782
  10,639
  11,530
  12,458
  13,422
  14,424
  15,465
  16,547
  17,672
  18,842
  20,058
  21,324
  22,641
  24,014
  25,444
  26,935
  28,490
  30,113
  31,807
  33,577
  35,426
  37,359
Adjusted assets (=assets-cash), $m
  4,182
  4,757
  5,368
  6,016
  6,700
  7,419
  8,172
  8,960
  9,782
  10,639
  11,530
  12,458
  13,422
  14,424
  15,465
  16,547
  17,672
  18,842
  20,058
  21,324
  22,641
  24,014
  25,444
  26,935
  28,490
  30,113
  31,807
  33,577
  35,426
  37,359
Revenue / Adjusted assets
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
Average production assets, $m
  2,288
  2,602
  2,936
  3,291
  3,665
  4,058
  4,470
  4,901
  5,350
  5,819
  6,307
  6,814
  7,341
  7,889
  8,459
  9,051
  9,666
  10,306
  10,971
  11,663
  12,384
  13,135
  13,917
  14,732
  15,583
  16,471
  17,397
  18,365
  19,377
  20,434
Working capital, $m
  177
  202
  228
  255
  284
  315
  346
  380
  415
  451
  489
  528
  569
  612
  656
  702
  749
  799
  850
  904
  960
  1,018
  1,079
  1,142
  1,208
  1,277
  1,349
  1,424
  1,502
  1,584
Total debt, $m
  2,186
  2,583
  3,006
  3,455
  3,928
  4,425
  4,947
  5,492
  6,061
  6,653
  7,271
  7,912
  8,580
  9,273
  9,994
  10,742
  11,521
  12,330
  13,172
  14,048
  14,959
  15,909
  16,899
  17,930
  19,007
  20,130
  21,302
  22,527
  23,807
  25,144
Total liabilities, $m
  2,894
  3,292
  3,715
  4,163
  4,636
  5,134
  5,655
  6,200
  6,769
  7,362
  7,979
  8,621
  9,288
  9,981
  10,702
  11,451
  12,229
  13,038
  13,880
  14,756
  15,668
  16,618
  17,607
  18,639
  19,715
  20,838
  22,011
  23,235
  24,515
  25,853
Total equity, $m
  1,288
  1,465
  1,653
  1,853
  2,064
  2,285
  2,517
  2,760
  3,013
  3,277
  3,551
  3,837
  4,134
  4,443
  4,763
  5,097
  5,443
  5,803
  6,178
  6,568
  6,974
  7,396
  7,837
  8,296
  8,775
  9,275
  9,797
  10,342
  10,911
  11,507
Total liabilities and equity, $m
  4,182
  4,757
  5,368
  6,016
  6,700
  7,419
  8,172
  8,960
  9,782
  10,639
  11,530
  12,458
  13,422
  14,424
  15,465
  16,548
  17,672
  18,841
  20,058
  21,324
  22,642
  24,014
  25,444
  26,935
  28,490
  30,113
  31,808
  33,577
  35,426
  37,360
Debt-to-equity ratio
  1.700
  1.760
  1.820
  1.860
  1.900
  1.940
  1.970
  1.990
  2.010
  2.030
  2.050
  2.060
  2.080
  2.090
  2.100
  2.110
  2.120
  2.120
  2.130
  2.140
  2.150
  2.150
  2.160
  2.160
  2.170
  2.170
  2.170
  2.180
  2.180
  2.190
Adjusted equity ratio
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  126
  165
  207
  252
  299
  348
  400
  454
  511
  570
  708
  772
  839
  908
  980
  1,055
  1,133
  1,214
  1,299
  1,387
  1,479
  1,575
  1,675
  1,779
  1,888
  2,002
  2,121
  2,245
  2,375
  2,511
Depreciation, amort., depletion, $m
  285
  310
  337
  364
  394
  425
  457
  491
  527
  563
  497
  537
  578
  621
  666
  713
  761
  811
  864
  918
  975
  1,034
  1,096
  1,160
  1,227
  1,297
  1,370
  1,446
  1,526
  1,609
Funds from operations, $m
  411
  475
  544
  616
  692
  773
  857
  945
  1,037
  1,133
  1,205
  1,309
  1,417
  1,529
  1,646
  1,768
  1,894
  2,026
  2,163
  2,305
  2,454
  2,609
  2,770
  2,939
  3,115
  3,298
  3,490
  3,691
  3,901
  4,120
Change in working capital, $m
  23
  24
  26
  27
  29
  30
  32
  33
  35
  36
  38
  39
  41
  42
  44
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  69
  72
  75
  78
  82
Cash from operations, $m
  388
  451
  518
  588
  663
  742
  825
  912
  1,002
  1,097
  1,167
  1,269
  1,376
  1,487
  1,602
  1,722
  1,847
  1,976
  2,111
  2,252
  2,398
  2,551
  2,710
  2,876
  3,049
  3,230
  3,419
  3,616
  3,822
  4,038
Maintenance CAPEX, $m
  -157
  -180
  -205
  -231
  -259
  -289
  -320
  -352
  -386
  -421
  -458
  -497
  -537
  -578
  -621
  -666
  -713
  -761
  -811
  -864
  -918
  -975
  -1,034
  -1,096
  -1,160
  -1,227
  -1,297
  -1,370
  -1,446
  -1,526
New CAPEX, $m
  -293
  -314
  -334
  -354
  -374
  -393
  -412
  -431
  -450
  -469
  -488
  -507
  -527
  -548
  -570
  -592
  -615
  -640
  -665
  -692
  -721
  -751
  -782
  -815
  -851
  -888
  -927
  -968
  -1,011
  -1,057
Cash from investing activities, $m
  -450
  -494
  -539
  -585
  -633
  -682
  -732
  -783
  -836
  -890
  -946
  -1,004
  -1,064
  -1,126
  -1,191
  -1,258
  -1,328
  -1,401
  -1,476
  -1,556
  -1,639
  -1,726
  -1,816
  -1,911
  -2,011
  -2,115
  -2,224
  -2,338
  -2,457
  -2,583
Free cash flow, $m
  -62
  -43
  -22
  3
  30
  61
  94
  129
  167
  207
  221
  265
  312
  361
  411
  464
  519
  575
  634
  696
  759
  825
  893
  964
  1,038
  1,115
  1,195
  1,278
  1,365
  1,455
Issuance/(repayment) of debt, $m
  370
  397
  423
  448
  473
  497
  521
  545
  569
  593
  617
  642
  667
  693
  721
  749
  778
  809
  842
  876
  912
  950
  990
  1,032
  1,076
  1,123
  1,173
  1,225
  1,280
  1,338
Issuance/(repurchase) of shares, $m
  38
  12
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  408
  409
  423
  448
  473
  497
  521
  545
  569
  593
  617
  642
  667
  693
  721
  749
  778
  809
  842
  876
  912
  950
  990
  1,032
  1,076
  1,123
  1,173
  1,225
  1,280
  1,338
Total cash flow (excl. dividends), $m
  345
  366
  401
  451
  503
  558
  615
  674
  736
  800
  838
  907
  979
  1,054
  1,132
  1,213
  1,297
  1,385
  1,476
  1,571
  1,671
  1,775
  1,883
  1,996
  2,114
  2,238
  2,367
  2,503
  2,645
  2,793
Retained Cash Flow (-), $m
  -163
  -177
  -188
  -200
  -211
  -221
  -232
  -243
  -253
  -264
  -275
  -286
  -297
  -309
  -321
  -333
  -346
  -360
  -375
  -390
  -406
  -423
  -440
  -459
  -479
  -500
  -522
  -545
  -570
  -595
Prev. year cash balance distribution, $m
  134
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  316
  189
  213
  252
  293
  337
  383
  432
  483
  536
  563
  622
  682
  745
  811
  879
  951
  1,025
  1,101
  1,182
  1,265
  1,352
  1,442
  1,537
  1,635
  1,738
  1,846
  1,958
  2,075
  2,198
Discount rate, %
  7.40
  7.77
  8.16
  8.57
  8.99
  9.44
  9.92
  10.41
  10.93
  11.48
  12.05
  12.66
  13.29
  13.95
  14.65
  15.38
  16.15
  16.96
  17.81
  18.70
  19.63
  20.62
  21.65
  22.73
  23.87
  25.06
  26.31
  27.63
  29.01
  30.46
PV of cash for distribution, $m
  294
  163
  168
  181
  190
  196
  198
  195
  190
  181
  161
  149
  135
  120
  104
  89
  75
  61
  49
  38
  29
  22
  16
  11
  8
  5
  3
  2
  1
  1
Current shareholders' claim on cash, %
  97.2
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4

Summit Materials, Inc. is a construction materials company. The Company operates through three segments: West, East and Cement. As of December 31, 2016, the Company had operations in 21 states in the United States and in British Columbia, Canada. The Company's materials include aggregates, which it supplies across the United States, and in British Columbia, Canada, and cement, which it supplies along the Mississippi River from Minneapolis to New Orleans. Within its markets, it offers construction materials and related downstream products through its vertical integration. In addition to supplying of aggregates to its customers, the Company also uses its materials internally to produce ready-mix concrete and asphalt paving mix. Its construction materials operations consists of aggregates production, including crushed stone and construction sand and gravel, cement and ready-mixed concrete production, and asphalt paving mix production.

FINANCIAL RATIOS  of  Summit Materials Cl A (SUM)

Valuation Ratios
P/E Ratio 34.4
Price to Sales 0.8
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 5.2
Price to Free Cash Flow 13.8
Growth Rates
Sales Growth Rate 13.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 71.9%
Cap. Spend. - 3 Yr. Gr. Rate 18.3%
Financial Strength
Quick Ratio 8
Current Ratio 0.1
LT Debt to Equity 179.9%
Total Debt to Equity 182.1%
Interest Coverage 1
Management Effectiveness
Return On Assets 5%
Ret/ On Assets - 3 Yr. Avg. 2.7%
Return On Total Capital 1.7%
Ret/ On T. Cap. - 3 Yr. Avg. 0.9%
Return On Equity 5%
Return On Equity - 3 Yr. Avg. 2.7%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 34.1%
Gross Margin - 3 Yr. Avg. 30.4%
EBITDA Margin 17.5%
EBITDA Margin - 3 Yr. Avg. 14.4%
Operating Margin 9.5%
Oper. Margin - 3 Yr. Avg. 6.6%
Pre-Tax Margin 2.5%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 2.3%
Net Profit Margin - 3 Yr. Avg. 1.2%
Effective Tax Rate -12.2%
Eff/ Tax Rate - 3 Yr. Avg. 45.5%
Payout Ratio 0%

SUM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SUM stock intrinsic value calculation we used $1932.575 million for the last fiscal year's total revenue generated by Summit Materials Cl A. The default revenue input number comes from 0001 income statement of Summit Materials Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SUM stock valuation model: a) initial revenue growth rate of 14.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.4%, whose default value for SUM is calculated based on our internal credit rating of Summit Materials Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Summit Materials Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SUM stock the variable cost ratio is equal to 78.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $202 million in the base year in the intrinsic value calculation for SUM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.5% for Summit Materials Cl A.

Corporate tax rate of 27% is the nominal tax rate for Summit Materials Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SUM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SUM are equal to 103.2%.

Life of production assets of 12.7 years is the average useful life of capital assets used in Summit Materials Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SUM is equal to 8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1258.543 million for Summit Materials Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 111.629 million for Summit Materials Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Summit Materials Cl A at the current share price and the inputted number of shares is $1.5 billion.

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COMPANY NEWS

▶ Is Summit Materials Incs (NYSE:SUM) Cash Outlook Optimistic?   [Nov-30-18 07:47AM  Simply Wall St.]
▶ Wallace Weitz's Top 5 Buys in 3rd Quarter   [Nov-19-18 05:12PM  GuruFocus.com]
▶ 3 Ideas for Contrarians   [Nov-14-18 06:00AM  Morningstar]
▶ Summit Materials: 3Q Earnings Snapshot   [Nov-06-18 06:33AM  Associated Press]
▶ Hedge Fund Three Bays to Close After Poor Performance   [Oct-31-18 07:19PM  Bloomberg]
▶ Wallace Weitz Comments on Summit Materials   [Oct-23-18 04:26PM  GuruFocus.com]
▶ Why Summit Materials Stock Just Dropped 16%   [Aug-01-18 01:11PM  Motley Fool]
▶ Summit Materials: 2Q Earnings Snapshot   [06:26AM  Associated Press]
▶ Is Summit Materials Incs (NYSE:SUM) ROE Of 10.11% Sustainable?   [Jun-25-18 08:14AM  Simply Wall St.]
▶ Summit Materials: 1Q Earnings Snapshot   [May-08-18 10:52AM  Associated Press]
▶ Summit Materials, Inc. Class A to Host Earnings Call   [Feb-14-18 09:30AM  ACCESSWIRE]
▶ Infrastructure Plan Underwhelms   [07:00AM  Morningstar]
▶ Summit Materials beats Street 4Q forecasts   [06:34AM  Associated Press]
▶ Stocks With Rising Relative Strength: Summit Materials   [Jan-12-18 03:00AM  Investor's Business Daily]
▶ Stocks Showing Improved Relative Strength: Summit Materials   [03:00AM  Investor's Business Daily]
▶ 3 Stocks to Buy for This Years Santa Claus Rally   [Dec-20-17 07:00AM  InvestorPlace]
▶ Stocks Close Higher As This Big Retailer Reaches A Buy Point   [Dec-08-17 04:14PM  Investor's Business Daily]
▶ Summit Materials Declares Special Stock Dividend   [Nov-28-17 04:25PM  Business Wire]
▶ Summit Materials, Inc. Class A to Host Earnings Call   [Oct-30-17 07:10AM  ACCESSWIRE]
▶ Summit Materials misses 3Q profit forecasts   [06:43AM  Associated Press]
▶ Stifel's case for materials stocks   [Oct-18-17 01:20PM  CNBC Videos]
▶ [$$] Cement Company Should Go With Solid Choice   [Oct-17-17 12:28AM  The Wall Street Journal]
▶ [$$] Cement Company Should Go With Solid Choice   [Oct-16-17 02:34PM  The Wall Street Journal]
▶ Summit Materials to Attend Upcoming Investor Conference   [Sep-29-17 06:00AM  Business Wire]

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