Summit Materials (NYSE:SUM - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.
A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, March 14th. Barclays boosted their price target on Summit Materials from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 14th. Truist Financial raised their price target on Summit Materials from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on Summit Materials from $44.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Summit Materials in a research note on Friday, February 23rd. They set an "overweight" rating and a $47.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.73.
Read Our Latest Stock Report on Summit Materials
Summit Materials Trading Up 0.9 %
NYSE SUM traded up $0.37 during trading on Friday, hitting $39.47. The stock had a trading volume of 1,489,451 shares, compared to its average volume of 990,985. 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 company has a market capitalization of $6.88 billion, a PE ratio of 17.62 and a beta of 1.34. The firm has a 50 day moving average price of $41.72 and a 200 day moving average price of $38.04. Summit Materials has a twelve month low of $28.57 and a twelve month high of $44.89.
Summit Materials (NYSE:SUM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The construction company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.11. The company had revenue of $773.23 million during the quarter, compared to analysts' expectations of $803.98 million. Summit Materials had a net margin of 8.36% and a return on equity of 8.96%. The firm's revenue was up 89.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) EPS. As a group, equities research analysts forecast that Summit Materials will post 2.23 earnings per share for the current year.
Institutional Investors Weigh In On Summit Materials
A number of large investors have recently bought and sold shares of SUM. Knights of Columbus Asset Advisors LLC raised its holdings in Summit Materials by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 192,349 shares of the construction company's stock valued at $7,398,000 after acquiring an additional 93,487 shares in the last quarter. River Road Asset Management LLC boosted its position in shares of Summit Materials by 6.8% during the fourth quarter. River Road Asset Management LLC now owns 1,727,475 shares of the construction company's stock worth $66,439,000 after purchasing an additional 109,985 shares in the last quarter. Harvey Capital Management Inc. bought a new stake in shares of Summit Materials in the 4th quarter valued at $1,167,000. Vanguard Group Inc. grew its stake in Summit Materials by 1.2% in the third quarter. Vanguard Group Inc. now owns 11,925,288 shares of the construction company's stock valued at $371,353,000 after acquiring an additional 136,921 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in shares of Summit Materials in the fourth quarter worth about $769,000.
Summit Materials Company Profile
(
Get Free Report)
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.
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