Summit Materials (NYSE:SUM) Given Peer Perform Rating at Wolfe Research

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

Other research analysts have also issued research reports about the stock. Royal Bank of Canada restated a “sector perform” rating and set a $52.50 target price (down previously from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. Truist Financial reaffirmed a “hold” rating and issued a $52.50 target price (down previously from $60.00) on shares of Summit Materials in a report on Tuesday. Longbow Research restated a “neutral” rating on shares of Summit Materials in a report on Tuesday. Jefferies Financial Group cut their target price on shares of Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Citigroup reaffirmed a “neutral” rating and set a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Summit Materials has a consensus rating of “Hold” and an average price target of $50.81.

Summit Materials Stock Performance

Shares of NYSE SUM opened at $50.94 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock has a 50 day moving average price of $44.21 and a 200 day moving average price of $40.34. The stock has a market capitalization of $8.95 billion, a PE ratio of 62.12 and a beta of 1.14. Summit Materials has a 52 week low of $34.38 and a 52 week high of $53.49.

Summit Materials (NYSE:SUM) last released 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. Summit Materials’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. Analysts predict that Summit Materials will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of Summit Materials

Several large investors have recently modified their holdings of SUM. Johnson Investment Counsel Inc. increased its holdings in Summit Materials by 5.8% in the 2nd 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 stake in Summit Materials by 6.3% during the third quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock worth $270,000 after acquiring an additional 411 shares during the last quarter. Waycross Investment Management Co raised its position in Summit Materials by 1.0% during the second 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 period. Xponance Inc. boosted its holdings in shares of Summit Materials by 6.2% in the 2nd quarter. Xponance Inc. now owns 7,687 shares of the construction company’s stock worth $281,000 after purchasing an additional 448 shares during the period. Finally, Toth Financial Advisory Corp increased its position in shares of Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter.

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.