Summit Materials (SUM) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Summit Materials (NYSE: SUM):

• 12/16/2024 – Summit Materials was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $52.50 price target on the stock, down previously from $58.00.
• 12/13/2024 – Summit Materials is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 12/5/2024 – Summit Materials is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 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.

Summit Materials Trading Up 0.1 %

Summit Materials stock traded up $0.05 during trading on Tuesday, reaching $50.80. The company had a trading volume of 2,101,843 shares, compared to its average volume of 1,404,679. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 61.95 and a beta of 1.14. The stock’s 50 day moving average price is $47.01 and its two-hundred day moving average price is $41.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. Summit Materials, Inc. has a 12-month low of $34.38 and a 12-month high of $53.49.

Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 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 the consensus estimate of $1.17 billion. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The company’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 earnings per share. As a group, equities analysts expect that Summit Materials, Inc. will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total value of $78,197.76. Following the completion of the transaction, the insider now owns 40,221 shares of the company’s stock, valued at approximately $2,047,651.11. This represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SUM. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Summit Materials during the 3rd quarter worth approximately $203,000. Franklin Resources Inc. purchased a new stake in shares of Summit Materials during the third quarter worth $7,359,000. Synovus Financial Corp grew its stake in shares of Summit Materials by 13.6% in the third quarter. Synovus Financial Corp now owns 28,244 shares of the construction company’s stock worth $1,102,000 after purchasing an additional 3,390 shares during the last quarter. Tidal Investments LLC raised its holdings in Summit Materials by 32.0% in the 3rd quarter. Tidal Investments LLC now owns 13,688 shares of the construction company’s stock worth $534,000 after acquiring an additional 3,321 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in shares of Summit Materials during the 3rd quarter valued at $457,000.

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.