Summit Materials, Inc. (NYSE:SUM) Receives $23.71 Consensus Price Target from Brokerages


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Summit Materials, Inc. (NYSE:SUM) has earned an average rating of “Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.00.

A number of research firms recently issued reports on SUM. Stephens raised Summit Materials from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Wednesday, January 6th. Morgan Stanley raised their target price on Summit Materials from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, April 19th. Zacks Investment Research lowered Summit Materials from a “buy” rating to a “hold” rating in a report on Saturday, February 27th. Finally, JPMorgan Chase & Co. raised their target price on Summit Materials from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, January 22nd.

Shares of SUM traded up $0.67 during trading hours on Thursday, hitting $29.56. 22,732 shares of the company were exchanged, compared to its average volume of 1,338,006. The company has a market capitalization of $3.39 billion, a PE ratio of 24.08 and a beta of 1.37. The firm has a fifty day simple moving average of $28.64 and a 200-day simple moving average of $23.47. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.43 and a quick ratio of 1.84. Summit Materials has a one year low of $10.37 and a one year high of $31.00.

Summit Materials (NYSE:SUM) last issued its earnings results on Tuesday, February 23rd. The construction company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.08. The business had revenue of $624.63 million during the quarter, compared to analysts’ expectations of $510.86 million. Summit Materials had a return on equity of 9.41% and a net margin of 6.12%. Summit Materials’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. Sell-side analysts expect that Summit Materials will post 0.73 EPS for the current year.

In other news, Director John Raymond Murphy sold 7,000 shares of Summit Materials stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $27.64, for a total value of $193,480.00. Following the transaction, the director now directly owns 13,979 shares in the company, valued at $386,379.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.54% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Summit Materials by 7.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 5,898 shares of the construction company’s stock worth $118,000 after acquiring an additional 411 shares in the last quarter. Janney Capital Management LLC boosted its holdings in shares of Summit Materials by 4.2% in the 1st quarter. Janney Capital Management LLC now owns 16,410 shares of the construction company’s stock worth $460,000 after acquiring an additional 659 shares in the last quarter. Exane Derivatives boosted its holdings in shares of Summit Materials by 26.6% in the 1st quarter. Exane Derivatives now owns 3,226 shares of the construction company’s stock worth $90,000 after acquiring an additional 678 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Summit Materials by 11.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,996 shares of the construction company’s stock worth $181,000 after acquiring an additional 950 shares in the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of Summit Materials by 4.3% in the 4th quarter. Aperio Group LLC now owns 23,758 shares of the construction company’s stock worth $477,000 after acquiring an additional 984 shares in the last quarter.

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 through 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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