Investment Analysts’ Recent Ratings Updates for Summit Materials (SUM)

A number of research firms have changed their ratings and price targets for Summit Materials (NYSE: SUM):

• 11/26/2024 – Summit Materials had its “peer perform” rating reaffirmed by analysts at Wolfe Research.
• 11/26/2024 – Summit Materials had its “neutral” rating reaffirmed by analysts at Longbow Research.
• 11/26/2024 – Summit Materials had its “neutral” rating reaffirmed by analysts at Citigroup Inc.. They now have a $52.50 price target on the stock, down previously from $55.00.
• 11/26/2024 – Summit Materials had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $52.50 price target on the stock, down previously from $60.00.
• 11/26/2024 – Summit Materials had its “hold” rating reaffirmed by analysts at Loop Capital. They now have a $52.50 price target on the stock, down previously from $54.00.
• 11/25/2024 – Summit Materials had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $52.50 price target on the stock, down previously from $54.00.
• 11/25/2024 – Summit Materials had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $52.50 price target on the stock, up previously from $43.00.
• 11/20/2024 – Summit Materials was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/5/2024 – Summit Materials had its price target raised by analysts at DA Davidson from $41.00 to $47.00. They now have a “neutral” rating on the stock.
• 11/5/2024 – Summit Materials was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/1/2024 – Summit Materials had its price target raised by analysts at Royal Bank of Canada from $53.00 to $54.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Summit Materials had its price target raised by analysts at Loop Capital from $49.00 to $54.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Summit Materials had its price target raised by analysts at Truist Financial Co. from $47.00 to $60.00. They now have a “buy” rating on the stock.
• 10/29/2024 – Summit Materials was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $52.00 price target on the stock, up previously from $45.00.
• 10/25/2024 – Summit Materials was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $53.00 price target on the stock, up previously from $45.00.
• 10/15/2024 – Summit Materials had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $41.00 price target on the stock.
• 10/9/2024 – Summit Materials had its price target lowered by analysts at JPMorgan Chase & Co. from $47.00 to $43.00. They now have an “overweight” rating on the stock.
• 10/9/2024 – Summit Materials had its price target lowered by analysts at Jefferies Financial Group Inc. from $58.00 to $56.00. They now have a “buy” rating on the stock.
• 10/9/2024 – Summit Materials had its price target lowered by analysts at Citigroup Inc. from $47.00 to $46.00. They now have a “buy” rating on the stock.

Summit Materials Stock Up 0.2 %

Shares of NYSE SUM opened at $50.85 on Wednesday. Summit Materials, Inc. has a 1 year low of $34.38 and a 1 year high of $53.49. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 62.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock’s 50-day simple moving average is $43.52 and its 200-day simple moving average is $40.11.

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

Institutional Trading of Summit Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its stake in Summit Materials by 38.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 147,375 shares of the construction company’s stock valued at $6,569,000 after acquiring an additional 41,281 shares during the period. Bayesian Capital Management LP acquired a new position in Summit Materials in the first quarter valued at approximately $726,000. Comerica Bank boosted its stake in Summit Materials by 215.3% in the first quarter. Comerica Bank now owns 91,053 shares of the construction company’s stock valued at $4,058,000 after acquiring an additional 62,173 shares during the period. American Trust boosted its stake in Summit Materials by 8.6% in the first quarter. American Trust now owns 7,026 shares of the construction company’s stock valued at $313,000 after acquiring an additional 557 shares during the period. Finally, First Hawaiian Bank boosted its stake in Summit Materials by 4.8% in the second quarter. First Hawaiian Bank now owns 16,815 shares of the construction company’s stock valued at $616,000 after acquiring an additional 768 shares during the period.

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.