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

StockNews.com began coverage on shares of Summit Materials (NYSE:SUM - Free Report) in a report published on Thursday morning. The firm issued a sell rating on the construction company's stock.

SUM has been the subject of several other research reports. Citigroup reiterated a "neutral" rating and issued a $52.50 price objective (down previously from $55.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Wolfe Research restated a "peer perform" rating on shares of Summit Materials in a research note on Tuesday, November 26th. Longbow Research restated a "neutral" rating on shares of Summit Materials in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a report on Monday, November 25th. Finally, Barclays upgraded Summit Materials from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $45.00 to $52.00 in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $50.54.

Summit Materials Price Performance

Shares of SUM stock traded up $0.02 during mid-day trading on Thursday, hitting $52.39. 3,615,300 shares of the stock were exchanged, compared to its average volume of 3,706,279. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. The company has a market cap of $9.20 billion, a PE ratio of 63.88 and a beta of 1.14. Summit Materials has a 52-week low of $34.64 and a 52-week high of $53.49. The firm has a fifty day moving average of $51.27 and a 200 day moving average of $44.44.

Summit Materials (NYSE:SUM - Get Free Report) last released its quarterly earnings data 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 net margin of 3.92% and a return on equity of 6.90%. The company 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 EPS. Summit Materials's quarterly revenue was up 49.9% on a year-over-year basis. Research analysts anticipate 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 firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.91, for a total value of $78,197.76. Following the completion of the transaction, the insider now owns 40,221 shares of the company's stock, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On Summit Materials

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in shares of Summit Materials during the 2nd quarter valued at $2,320,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Summit Materials by 16.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,717 shares of the construction company's stock worth $173,000 after acquiring an additional 680 shares in the last quarter. Truist Financial Corp acquired a new stake in Summit Materials during the second quarter valued at $314,000. Sanctuary Advisors LLC purchased a new position in Summit Materials in the second quarter valued at about $674,000. Finally, American Trust increased its position in Summit Materials by 18.5% in the 2nd quarter. American Trust now owns 8,329 shares of the construction company's stock worth $305,000 after purchasing an additional 1,303 shares during the last quarter.

About Summit Materials

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.