Summit Materials, Inc. (NYSE:SUM) Given Consensus Rating of “Hold” by Brokerages

Summit Materials, Inc. (NYSE:SUM) has been assigned a consensus rating of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $50.54.

SUM has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Summit Materials from a “buy” rating to a “hold” rating and cut their target price for the company from $58.00 to $52.50 in a research report on Monday, December 16th. DA Davidson lifted their target price on Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. StockNews.com initiated coverage on shares of Summit Materials in a report on Monday. They set a “sell” rating for the company. Loop Capital reaffirmed a “hold” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th.

Summit Materials Stock Performance

Summit Materials stock opened at $52.13 on Wednesday. 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 12 month low of $34.38 and a 12 month high of $53.49. The stock’s 50-day moving average is $49.99 and its 200-day moving average is $42.59. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 63.57 and a beta of 1.14.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The firm had revenue of $1.11 billion for 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 revenue for the quarter was up 49.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. Equities analysts anticipate that Summit Materials will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Summit Materials

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the firm’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 in the company, valued at $2,047,651.11. This trade represents a 3.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its position in Summit Materials by 9.6% during the second quarter. Rhumbline Advisers now owns 213,302 shares of the construction company’s stock worth $7,809,000 after buying an additional 18,625 shares during the last quarter. Arizona State Retirement System raised its stake in Summit Materials by 4.7% in the 2nd quarter. Arizona State Retirement System now owns 34,382 shares of the construction company’s stock valued at $1,259,000 after acquiring an additional 1,540 shares during the period. Quest Partners LLC acquired a new stake in Summit Materials during the 2nd quarter valued at $40,000. Ashton Thomas Private Wealth LLC bought a new position in Summit Materials during the second quarter worth $154,000. Finally, Choreo LLC acquired a new position in shares of Summit Materials in the second quarter valued at $382,000.

About Summit Materials

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.