Summit Materials, Inc. (NYSE:SUM) Stock Position Boosted by River Road Asset Management LLC

River Road Asset Management LLC lifted its stake in Summit Materials, Inc. (NYSE:SUM - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,727,475 shares of the construction company's stock after purchasing an additional 109,985 shares during the period. River Road Asset Management LLC owned approximately 1.45% of Summit Materials worth $66,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new stake in shares of Summit Materials in the third quarter valued at about $32,000. Benjamin Edwards Inc. raised its position in Summit Materials by 81.3% during the second quarter. Benjamin Edwards Inc. now owns 939 shares of the construction company's stock worth $36,000 after acquiring an additional 421 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Summit Materials during the third quarter worth about $54,000. Register Financial Advisors LLC raised its position in Summit Materials by 98.3% during the third quarter. Register Financial Advisors LLC now owns 2,017 shares of the construction company's stock worth $63,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Summit Materials during the third quarter worth about $77,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Stephens restated an "overweight" rating and set a $45.00 target price on shares of Summit Materials in a research report on Tuesday, February 13th. Truist Financial lifted their price target on shares of Summit Materials from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. assumed coverage on shares of Summit Materials in a report on Friday, February 23rd. They set an "overweight" rating and a $47.00 price target for the company. The Goldman Sachs Group lifted their price target on shares of Summit Materials from $43.00 to $49.00 and gave the stock a "neutral" rating in a report on Thursday, March 14th. Finally, Citigroup lifted their price target on shares of Summit Materials from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.09.

Summit Materials Trading Down 1.2 %

Summit Materials stock traded down $0.46 during trading on Wednesday, reaching $39.04. The company had a trading volume of 1,040,875 shares, compared to its average volume of 975,540. Summit Materials, Inc. has a 12-month low of $26.18 and a 12-month high of $44.89. The stock's 50 day moving average price is $41.78 and its two-hundred day moving average price is $37.56. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 16.40 and a beta of 1.32. 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 released its earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. The firm had revenue of $613.13 million during the quarter, compared to the consensus estimate of $560.90 million. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. Summit Materials's revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. As a group, equities analysts expect that Summit Materials, Inc. will post 2.28 earnings per share for the current fiscal year.

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.