StockNews.com Begins Coverage on Summit Materials (NYSE:SUM)

StockNews.com began coverage on shares of Summit Materials (NYSE:SUM - Free Report) in a research note issued to investors on Tuesday morning. The brokerage issued a sell rating on the construction company's stock.

SUM has been the subject of several other reports. Loop Capital restated a "hold" rating and issued a $52.50 price target (down from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. Wolfe Research reissued a "peer perform" rating on shares of Summit Materials in a research note on Tuesday, November 26th. DA Davidson lifted their price target on shares of Summit Materials from $41.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Citigroup restated a "neutral" rating and set a $52.50 price objective (down from $55.00) on shares of Summit Materials in a report on Tuesday, November 26th. Finally, Truist Financial reaffirmed a "hold" rating and set a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $50.54.

Summit Materials Trading Up 0.0 %

Shares of Summit Materials stock traded up $0.01 during trading on Tuesday, hitting $52.07. 1,835,221 shares of the company were exchanged, compared to its average volume of 4,893,822. The firm has a market capitalization of $9.14 billion, a P/E ratio of 63.50 and a beta of 1.14. The firm's fifty day moving average price is $50.51 and its 200 day moving average price is $43.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials has a 1-year low of $34.38 and a 1-year high of $53.49.

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

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the transaction, the insider now directly owns 40,221 shares in the company, valued at approximately $2,047,651.11. This represents a 3.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company's stock valued at $28,000 after acquiring an additional 353 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Summit Materials in the third quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Summit Materials in the third quarter worth $28,000. Toth Financial Advisory Corp raised its stake in shares of Summit Materials by 147.1% in the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company's stock valued at $33,000 after buying an additional 500 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Summit Materials by 3,804.2% during the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company's stock valued at $37,000 after buying an additional 913 shares during the last quarter.

Summit Materials Company Profile

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.