Chesapeake Capital Corp IL Purchases 1,990 Shares of Summit Materials, Inc. (NYSE:SUM)

Chesapeake Capital Corp IL increased its stake in shares of Summit Materials, Inc. (NYSE:SUM) by 27.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,121 shares of the construction company’s stock after purchasing an additional 1,990 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Summit Materials were worth $353,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of Summit Materials in the third quarter valued at about $27,000. Toth Financial Advisory Corp boosted its stake in shares of Summit Materials by 147.1% in the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after acquiring an additional 500 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Summit Materials by 3,804.2% during the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after purchasing an additional 913 shares in the last quarter. Quest Partners LLC acquired a new stake in Summit Materials during the 2nd quarter worth $40,000. Finally, Farther Finance Advisors LLC raised its position in shares of Summit Materials by 275.7% in the third quarter. Farther Finance Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $51,000 after buying an additional 951 shares during the last quarter.

Summit Materials Stock Performance

NYSE:SUM opened at $48.43 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials, Inc. has a 1-year low of $33.70 and a 1-year high of $51.74. The firm has a 50-day moving average of $41.74 and a two-hundred day moving average of $39.62. The stock has a market cap of $8.50 billion, a P/E ratio of 59.06 and a beta of 1.14.

Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The business’s revenue was up 49.9% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. On average, research analysts expect that Summit Materials, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on SUM shares. Morgan Stanley started coverage on Summit Materials in a report on Monday, August 26th. They issued an “overweight” rating and a $51.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Summit Materials from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Jefferies Financial Group lowered their price objective on Summit Materials from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. DA Davidson raised their price target on Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded Summit Materials from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

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.