Summit Materials (NYSE:SUM) Sets New 1-Year High at $44.51

Summit Materials, Inc. (NYSE:SUM - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $44.51 and last traded at $44.44, with a volume of 95299 shares trading hands. The stock had previously closed at $44.03.

Wall Street Analyst Weigh In

SUM has been the subject of a number of recent analyst reports. Stephens reaffirmed an "overweight" rating and set a $45.00 price target on shares of Summit Materials in a research report on Tuesday, February 13th. Royal Bank of Canada upped their target price on Summit Materials from $39.00 to $44.00 and gave the company a "sector perform" rating in a report on Thursday, March 14th. The Goldman Sachs Group lifted their price target on shares of Summit Materials from $43.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, March 14th. JPMorgan Chase & Co. assumed coverage on shares of Summit Materials in a report on Friday, February 23rd. They issued an "overweight" rating and a $47.00 price objective for the company. Finally, Barclays lifted their target price on shares of Summit Materials from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.09.

Summit Materials Trading Up 1.2 %

The stock has a market cap of $7.77 billion, a PE ratio of 18.73 and a beta of 1.32. The firm has a 50-day moving average price of $40.14 and a 200-day moving average price of $36.47. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.62 and a current ratio of 5.36.

Summit Materials (NYSE:SUM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. The company had revenue of $613.13 million during the quarter, compared to analyst estimates of $560.90 million. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The firm's revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. As a group, equities analysts anticipate that Summit Materials, Inc. will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Summit Materials

Several large investors have recently bought and sold shares of SUM. Price T Rowe Associates Inc. MD grew its holdings in shares of Summit Materials by 61.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,814,270 shares of the construction company's stock worth $338,998,000 after acquiring an additional 3,339,736 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Summit Materials by 130.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,512,959 shares of the construction company's stock valued at $171,674,000 after purchasing an additional 3,122,575 shares during the period. Victory Capital Management Inc. increased its position in shares of Summit Materials by 134.0% during the 4th quarter. Victory Capital Management Inc. now owns 3,413,482 shares of the construction company's stock valued at $96,909,000 after purchasing an additional 1,954,722 shares during the last quarter. Norges Bank bought a new position in shares of Summit Materials in the 4th quarter worth approximately $49,437,000. Finally, River Road Asset Management LLC grew its position in Summit Materials by 172.9% during the third quarter. River Road Asset Management LLC now owns 1,617,490 shares of the construction company's stock valued at $50,369,000 after buying an additional 1,024,888 shares during the period.

Summit Materials Company Profile

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.