Jackson Creek Investment Advisors LLC Purchases New Position in Summit Materials, Inc. (NYSE:SUM)

Jackson Creek Investment Advisors LLC bought a new stake in shares of Summit Materials, Inc. (NYSE:SUM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,670 shares of the construction company's stock, valued at approximately $1,026,000.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its position in Summit Materials by 110.3% during the fourth 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 increased its position in Summit Materials by 2.7% during the third quarter. Janney Capital Management LLC now owns 13,160 shares of the construction company's stock valued at $410,000 after acquiring an additional 350 shares during the last quarter. Arizona State Retirement System lifted its holdings in Summit Materials by 1.4% in the third quarter. Arizona State Retirement System now owns 33,834 shares of the construction company's stock valued at $1,054,000 after acquiring an additional 460 shares during the period. Alliance Wealth Advisors LLC UT lifted its holdings in Summit Materials by 3.7% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 13,131 shares of the construction company's stock valued at $505,000 after acquiring an additional 465 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Summit Materials by 3.4% in the third quarter. PNC Financial Services Group Inc. now owns 14,942 shares of the construction company's stock worth $465,000 after purchasing an additional 490 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SUM. 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. The Goldman Sachs Group upped their target price 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. Barclays boosted their price objective on shares of Summit Materials from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Thursday, March 14th. Citigroup upped their price objective on Summit Materials from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Finally, Truist Financial upped their price target on Summit Materials from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Summit Materials currently has a consensus rating of "Moderate Buy" and an average price target of $46.09.

Summit Materials Price Performance

Shares of NYSE:SUM traded down $1.24 during trading on Tuesday, hitting $38.89. 1,132,227 shares of the company's stock were exchanged, compared to its average volume of 961,023. The business's 50-day simple moving average is $41.81 and its 200 day simple moving average is $38.03. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.36 and a quick ratio of 4.62. Summit Materials, Inc. has a 52-week low of $27.20 and a 52-week high of $44.89. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 16.34 and a beta of 1.32.

Summit Materials (NYSE:SUM - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The firm had revenue of $613.13 million for the quarter, compared to analysts' expectations of $560.90 million. During the same quarter last year, the business posted $0.32 earnings per share. The company's revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, equities analysts predict that Summit Materials, Inc. will post 2.23 EPS for the current 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.