Summit Materials, Inc. (NYSE:SUM) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Summit Materials, Inc. (NYSE:SUM - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $46.09.

Several equities analysts have recently commented on SUM shares. Truist Financial increased their price objective on Summit Materials from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, April 2nd. Stephens reiterated an "overweight" rating and set a $45.00 price objective on shares of Summit Materials in a research report on Tuesday, February 13th. Royal Bank of Canada increased 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. Citigroup increased their target price on Summit Materials from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. started coverage on Summit Materials in a report on Friday, February 23rd. They set an "overweight" rating and a $47.00 target price for the company.

Summit Materials Price Performance

Shares of Summit Materials stock traded down $0.41 during trading on Monday, hitting $42.70. 376,854 shares of the stock traded hands, compared to its average volume of 998,775. The company has a quick ratio of 4.62, a current ratio of 5.36 and a debt-to-equity ratio of 0.99. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 17.94 and a beta of 1.32. The firm's fifty day moving average is $41.25 and its 200-day moving average is $37.11. Summit Materials has a 52 week low of $25.43 and a 52 week high of $44.89.

Summit Materials (NYSE:SUM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $613.13 million for the quarter, compared to analyst estimates of $560.90 million. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The company's revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Research analysts expect that Summit Materials will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Summit Materials

Several institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its stake in shares of Summit Materials by 110.3% in the 4th quarter. Signaturefd LLC now owns 654 shares of the construction company's stock valued at $25,000 after purchasing an additional 343 shares during the period. Janney Capital Management LLC lifted its stake in shares of Summit Materials by 2.7% in the 3rd quarter. Janney Capital Management LLC now owns 13,160 shares of the construction company's stock valued at $410,000 after purchasing an additional 350 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Summit Materials by 1.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,577 shares of the construction company's stock valued at $641,000 after purchasing an additional 377 shares during the period. Quadrant Capital Group LLC increased its position in Summit Materials by 25.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,902 shares of the construction company's stock valued at $73,000 after buying an additional 382 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Summit Materials by 113.7% during the 4th quarter. Parallel Advisors LLC now owns 750 shares of the construction company's stock worth $29,000 after purchasing an additional 399 shares during the period.

About Summit Materials

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.