Shares of Summit Materials Inc (NYSE:SUM) have earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.22.

A number of research analysts have recently issued reports on SUM shares. Zacks Investment Research raised Summit Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on Summit Materials from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Barclays set a $18.00 target price on Summit Materials and gave the company a “hold” rating in a report on Friday, June 14th. Finally, ValuEngine raised Summit Materials from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd.

NYSE SUM traded down $0.11 on Friday, reaching $22.52. The stock had a trading volume of 1,258,800 shares, compared to its average volume of 1,616,789. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.38 and a current ratio of 2.06. Summit Materials has a 12-month low of $11.25 and a 12-month high of $23.10. The business’s 50-day moving average price is $19.91 and its 200 day moving average price is $17.56. The stock has a market cap of $2.54 billion, a P/E ratio of 150.13 and a beta of 2.16.

Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). The firm had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $583.06 million. Summit Materials had a net margin of 0.94% and a return on equity of 1.68%. Summit Materials’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, sell-side analysts predict that Summit Materials will post 0.62 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in SUM. Vanguard Group Inc. grew its holdings in Summit Materials by 0.4% in the second quarter. Vanguard Group Inc. now owns 10,333,439 shares of the construction company’s stock valued at $198,919,000 after purchasing an additional 39,750 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Summit Materials by 8.0% in the second quarter. Janus Henderson Group PLC now owns 9,831,283 shares of the construction company’s stock valued at $189,252,000 after purchasing an additional 730,386 shares during the last quarter. BlackRock Inc. grew its holdings in Summit Materials by 1.3% in the second quarter. BlackRock Inc. now owns 7,663,421 shares of the construction company’s stock valued at $147,520,000 after purchasing an additional 97,208 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Summit Materials by 8.0% in the first quarter. Principal Financial Group Inc. now owns 4,879,607 shares of the construction company’s stock valued at $77,439,000 after purchasing an additional 362,331 shares during the last quarter. Finally, Putnam Investments LLC grew its holdings in Summit Materials by 10.6% in the second quarter. Putnam Investments LLC now owns 4,094,231 shares of the construction company’s stock valued at $78,814,000 after purchasing an additional 391,037 shares during 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 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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