Summit Materials, Inc. (NYSE:SUM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Summit Materials, Inc. (NYSE:SUM) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $46.73.

SUM has been the subject of a number of research reports. StockNews.com cut Summit Materials from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Royal Bank of Canada increased their price objective on shares of Summit Materials from $44.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Stephens boosted their price objective on shares of Summit Materials from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Barclays increased their target price on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Finally, Citigroup boosted their price target on Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, April 5th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Swisher Financial Concepts Inc. grew its position in shares of Summit Materials by 5.3% in the 1st quarter. Swisher Financial Concepts Inc. now owns 6,232 shares of the construction company’s stock valued at $259,000 after acquiring an additional 311 shares during the period. Signaturefd LLC grew its holdings in Summit Materials by 110.3% during the fourth quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock worth $25,000 after purchasing an additional 343 shares during the period. Janney Capital Management LLC increased its position in Summit Materials by 2.7% during the third quarter. Janney Capital Management LLC now owns 13,160 shares of the construction company’s stock worth $410,000 after buying an additional 350 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Summit Materials by 25.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,902 shares of the construction company’s stock valued at $73,000 after buying an additional 382 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Summit Materials by 113.7% in the fourth quarter. Parallel Advisors LLC now owns 750 shares of the construction company’s stock valued at $29,000 after buying an additional 399 shares during the last quarter.

Summit Materials Price Performance

Shares of SUM stock opened at $40.47 on Friday. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 18.07 and a beta of 1.34. Summit Materials has a 12-month low of $29.93 and a 12-month high of $44.89. The company has a quick ratio of 1.93, a current ratio of 2.58 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $41.58 and a 200-day moving average of $38.25.

Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, May 1st. The construction company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. The firm had revenue of $773.23 million during the quarter, compared to analysts’ expectations of $803.98 million. Summit Materials had a return on equity of 7.33% and a net margin of 8.36%. The company’s revenue was up 89.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.26) earnings per share. On average, equities research analysts forecast that Summit Materials will post 2.21 earnings per share for the current year.

Summit Materials Company Profile

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.