Summit Materials Inc (NYSE:SUM) Receives $20.22 Consensus Target Price from Brokerages

Summit Materials Inc (NYSE:SUM) has been given an average rating of “Buy” by the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.70.

A number of research analysts recently weighed in on SUM shares. ValuEngine lowered Summit Materials from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised Summit Materials from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Summit Materials from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Barclays set a $18.00 target price on Summit Materials and gave the stock a “hold” rating in a report on Friday, June 14th.

SUM stock opened at $21.43 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.38 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $2.40 billion, a PE ratio of 142.87 and a beta of 2.17. Summit Materials has a 1-year low of $11.25 and a 1-year high of $23.10. The business’s 50 day simple moving average is $21.31 and its 200 day simple moving average is $18.07.

Summit Materials (NYSE:SUM) last posted its earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). The business had revenue of $600.90 million for the quarter, compared to analyst estimates of $583.06 million. Summit Materials had a return on equity of 1.68% and a net margin of 0.94%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, sell-side analysts predict that Summit Materials will post 0.63 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUM. Quantamental Technologies LLC bought a new stake in Summit Materials in the 2nd quarter valued at $154,000. Financial Counselors Inc. bought a new stake in Summit Materials in the 1st quarter valued at $175,000. Skylands Capital LLC bought a new stake in Summit Materials in the 2nd quarter valued at $193,000. Sheets Smith Wealth Management boosted its stake in Summit Materials by 24.0% in the 1st quarter. Sheets Smith Wealth Management now owns 14,904 shares of the construction company’s stock valued at $237,000 after purchasing an additional 2,883 shares during the period. Finally, Advisor Group Inc. boosted its stake in Summit Materials by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 12,834 shares of the construction company’s stock valued at $248,000 after purchasing an additional 1,135 shares during the period.

Summit Materials Company Profile

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in 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.

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Analyst Recommendations for Summit Materials (NYSE:SUM)

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