Summit Materials, Inc., through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components. It also provides asphalt paving and related services to the private and public infrastructure sectors. In addition, the company operates municipal waste, construction, and demolition debris landfills; and liquid asphalt terminals. It has operations in the United States; and in British Columbia, Canada. The company was founded in 2009 and is headquartered in Denver, Colorado.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their price target on shares of Summit Materials from $34.00 to $30.00 and set a "neutral" rating on the stock in a research report on Thursday, June 23rd. Morgan Stanley dropped their price target on Summit Materials from $35.00 to $27.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Royal Bank of Canada raised Summit Materials from a "sector perform" rating to an "outperform" rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Wednesday, June 22nd. StockNews.com upgraded Summit Materials from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, DA Davidson reduced their price target on shares of Summit Materials from $33.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, July 1st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Summit Materials presently has an average rating of "Hold" and an average target price of $31.86.
Summit Materials Stock Performance
Shares of NYSE:SUM opened at $30.25 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.94 and a debt-to-equity ratio of 0.91. Summit Materials has a 1-year low of $21.99 and a 1-year high of $41.46. The stock has a market capitalization of $3.57 billion, a P/E ratio of 13.15 and a beta of 1.37. The business has a 50-day moving average price of $25.35 and a two-hundred day moving average price of $28.79.
Summit Materials (NYSE:SUM - Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The construction company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.01). Summit Materials had a return on equity of 7.71% and a net margin of 11.31%. The business had revenue of $392.50 million for the quarter, compared to the consensus estimate of $395.55 million. During the same period last year, the firm earned ($0.33) earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts predict that Summit Materials will post 1.33 earnings per share for the current year.