Summit Materials, Inc. (NYSE:SUM) Receives Consensus Recommendation of “Hold” from Brokerages

Summit Materials, Inc. (NYSE:SUM) has been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.54.

Several research analysts recently commented on SUM shares. JPMorgan Chase & Co. restated 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. Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $58.00 to $52.50 in a report on Monday, December 16th. Loop Capital restated a “hold” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a report on Monday, November 25th. Finally, Truist Financial restated a “hold” rating and issued a $52.50 price target (down previously from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th.

Insider Buying and Selling at Summit Materials

In other 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 transaction of $78,197.76. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of Summit Materials

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in shares of Summit Materials during the fourth quarter worth approximately $25,000. Versant Capital Management Inc grew its position in shares of Summit Materials by 179.2% during the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after buying an additional 353 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Summit Materials during the third quarter worth approximately $28,000. International Assets Investment Management LLC grew its position in shares of Summit Materials by 3,804.2% during the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after buying an additional 913 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Summit Materials during the fourth quarter worth approximately $56,000.

Summit Materials Trading Up 0.2 %

Shares of SUM stock opened at $52.54 on Thursday. The firm has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. Summit Materials has a 1-year low of $34.64 and a 1-year high of $54.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. The firm’s 50-day simple moving average is $52.03 and its 200-day simple moving average is $46.65.

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.