Summit Materials (NYSE:SUM) Rating Lowered to "Hold" at Stephens

Summit Materials (NYSE:SUM - Get Free Report) was downgraded by research analysts at Stephens from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

SUM has been the subject of several other research reports. StockNews.com assumed coverage on shares of Summit Materials in a report on Monday. They issued a "sell" rating for the company. DA Davidson boosted their target price on Summit Materials from $41.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. 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 report on Tuesday, November 26th. Longbow Research reiterated a "neutral" rating on shares of Summit Materials in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $52.50 target price (up from $43.00) on shares of Summit Materials in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $50.54.

Summit Materials Trading Down 0.2 %

NYSE:SUM traded down $0.09 during mid-day trading on Tuesday, hitting $52.05. The company had a trading volume of 7,080,038 shares, compared to its average volume of 5,975,208. 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 fifty-two week low of $34.38 and a fifty-two week high of $53.49. The firm has a market cap of $9.14 billion, a P/E ratio of 63.48 and a beta of 1.14. The business's fifty day moving average is $50.32 and its two-hundred day moving average is $42.84.

Summit Materials (NYSE:SUM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. As a group, research analysts expect that Summit Materials will post 1.66 earnings per share for the current year.

Insider Transactions at Summit Materials

In related news, insider Christopher Burke Gaskill sold 1,536 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the sale, the insider now owns 40,221 shares in the company, valued at approximately $2,047,651.11. This represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in shares of 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 buying an additional 353 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Summit Materials during the third quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Summit Materials in the third quarter valued at $28,000. Toth Financial Advisory Corp grew its position in shares of Summit Materials by 147.1% in the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company's stock valued at $33,000 after acquiring an additional 500 shares during the period. Finally, International Assets Investment Management LLC increased its stake 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 worth $37,000 after purchasing 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.