Summit Materials, Inc. (NYSE:SUM) Receives Consensus Recommendation of “Hold” from Analysts

Summit Materials, Inc. (NYSE:SUM) has been given a consensus rating of “Hold” by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $50.54.

SUM has been the subject of several analyst reports. Wolfe Research reiterated a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $52.50 target price (up from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. Citigroup restated a “neutral” rating and issued a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $58.00 to $52.50 in a research report on Monday, December 16th. Finally, Loop Capital restated a “hold” rating and issued a $52.50 target price (down previously from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th.

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total transaction of $78,197.76. Following the transaction, the insider now directly owns 40,221 shares of the company’s stock, valued at $2,047,651.11. This represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of Summit Materials

Large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in shares of Summit Materials in the third quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Summit Materials in the 3rd quarter valued at $28,000. Toth Financial Advisory Corp raised its holdings in Summit Materials by 147.1% in the 3rd 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 period. International Assets Investment Management LLC lifted its position in Summit Materials by 3,804.2% during the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after acquiring an additional 913 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Summit Materials during the second quarter valued at about $40,000.

Summit Materials Stock Performance

Shares of SUM opened at $50.50 on Friday. Summit Materials has a 12-month low of $34.38 and a 12-month high of $53.49. The stock has a market capitalization of $8.87 billion, a P/E ratio of 61.59 and a beta of 1.14. The firm’s 50 day moving average is $48.02 and its 200-day moving average is $41.50. 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 (NYSE:SUM) last posted its quarterly earnings results 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 company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The firm’s revenue was up 49.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. Equities research analysts anticipate that Summit Materials will post 1.66 EPS for the current fiscal year.

Summit Materials Company Profile

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.