Summit Materials (NYSE:SUM) Receives Peer Perform Rating from Wolfe Research

Wolfe Research restated their peer perform rating on shares of Summit Materials (NYSE:SUM) in a research note published on Tuesday, Marketbeat.com reports.

Several other equities research analysts have also recently weighed in on SUM. Longbow Research reissued a “neutral” rating on shares of Summit Materials in a research report on Tuesday. Citigroup reissued a “neutral” rating and issued a $52.50 price target (down from $55.00) on shares of Summit Materials in a report on Tuesday. DA Davidson boosted their price objective on shares of Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Morgan Stanley started coverage on shares of Summit Materials in a research note on Monday, August 26th. They issued an “overweight” rating and a $51.00 target price for the company. Finally, Jefferies Financial Group decreased their target price on Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $50.81.

Summit Materials Stock Up 0.5 %

Summit Materials stock opened at $51.09 on Tuesday. 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 has a fifty-two week low of $34.38 and a fifty-two week high of $53.49. The firm has a fifty day moving average price of $43.98 and a two-hundred day moving average price of $40.26. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 62.30 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 for the quarter, topping 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 return on equity of 6.90% and a net margin of 3.92%. The firm’s revenue was up 49.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. As a group, analysts forecast that Summit Materials will post 1.64 earnings per share for the current year.

Institutional Trading of Summit Materials

Large investors have recently bought and sold shares of the stock. Johnson Investment Counsel Inc. raised its stake in Summit Materials by 5.8% during the second quarter. Johnson Investment Counsel Inc. now owns 5,941 shares of the construction company’s stock worth $218,000 after acquiring an additional 327 shares in the last quarter. Assetmark Inc. increased its position in shares of Summit Materials by 6.3% during the 3rd quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock worth $270,000 after purchasing an additional 411 shares in the last quarter. Waycross Investment Management Co lifted its holdings in Summit Materials by 1.0% during the 2nd quarter. Waycross Investment Management Co now owns 41,076 shares of the construction company’s stock valued at $1,504,000 after purchasing an additional 412 shares during the last quarter. Xponance Inc. boosted its position in Summit Materials by 6.2% in the second quarter. Xponance Inc. now owns 7,687 shares of the construction company’s stock valued at $281,000 after buying an additional 448 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in Summit Materials by 147.1% during the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after buying an additional 500 shares during the last quarter.

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.