Summit Materials (NYSE:SUM) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Summit Materials (NYSE:SUM) in a note issued to investors on Friday. The firm set a “sell” rating on the construction company’s stock.

Other equities analysts have also recently issued reports about the stock. Loop Capital restated a “hold” rating and issued a $52.50 price target (down from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. DA Davidson boosted their price objective on shares of Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Longbow Research reaffirmed a “neutral” rating on shares of Summit Materials in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research report on Monday, November 25th. Finally, Citigroup reissued a “neutral” rating and issued a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. One 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’s stock. Based on data from MarketBeat.com, Summit Materials has a consensus rating of “Hold” and a consensus price target of $50.81.

Summit Materials Stock Down 0.1 %

Shares of SUM opened at $50.78 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. Summit Materials has a 52 week low of $34.38 and a 52 week high of $53.49. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 61.93 and a beta of 1.14. The stock has a fifty day moving average of $46.73 and a 200-day moving average of $41.10.

Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 49.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Summit Materials will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Christopher Burke Gaskill sold 1,536 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total transaction of $78,197.76. Following the transaction, the insider now owns 40,221 shares of the company’s stock, valued at $2,047,651.11. This represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SUM. Massachusetts Financial Services Co. MA grew its stake in Summit Materials by 6.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,639,798 shares of the construction company’s stock valued at $298,181,000 after acquiring an additional 429,062 shares during the period. Principal Financial Group Inc. grew its position in Summit Materials by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock valued at $206,445,000 after purchasing an additional 94,694 shares during the period. Victory Capital Management Inc. increased its stake in Summit Materials by 7.0% during the 2nd quarter. Victory Capital Management Inc. now owns 3,678,485 shares of the construction company’s stock valued at $134,669,000 after purchasing an additional 241,757 shares in the last quarter. River Road Asset Management LLC raised its holdings in Summit Materials by 15.9% during the third quarter. River Road Asset Management LLC now owns 3,567,938 shares of the construction company’s stock worth $139,257,000 after buying an additional 488,688 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Summit Materials by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after buying an additional 9,566 shares in 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.