Summit Materials (NYSE:SUM) Earns Peer Perform Rating from Wolfe Research

Wolfe Research reissued their peer perform rating on shares of Summit Materials (NYSE:SUM) in a research note released on Tuesday morning,Benzinga reports.

A number of other analysts have also recently commented on SUM. 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. Stephens reiterated an “overweight” rating and issued a $47.00 price target on shares of Summit Materials in a report on Tuesday, August 6th. StockNews.com cut shares of Summit Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. DA Davidson increased 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. Finally, Barclays raised shares of Summit Materials from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $52.00 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.81.

Summit Materials Stock Up 0.2 %

NYSE:SUM opened at $50.85 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock has a market capitalization of $8.93 billion, a P/E ratio of 62.01 and a beta of 1.14. The company’s 50-day simple moving average is $43.52 and its 200-day simple moving average is $40.11. Summit Materials has a fifty-two week low of $34.38 and a fifty-two week high of $53.49.

Summit Materials (NYSE:SUM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 49.9% on a year-over-year basis. On average, equities analysts anticipate that Summit Materials will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Summit Materials

A number of institutional investors have recently modified their holdings of SUM. Johnson Investment Counsel Inc. lifted its position in shares of Summit Materials by 5.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,941 shares of the construction company’s stock valued at $218,000 after buying an additional 327 shares in the last quarter. Assetmark Inc. grew its position in shares of Summit Materials by 6.3% in the third quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock valued at $270,000 after purchasing an additional 411 shares during the period. Waycross Investment Management Co increased its stake in shares of Summit Materials by 1.0% during the second quarter. Waycross Investment Management Co now owns 41,076 shares of the construction company’s stock worth $1,504,000 after purchasing an additional 412 shares in the last quarter. Xponance Inc. increased its stake in shares of Summit Materials by 6.2% during the second quarter. Xponance Inc. now owns 7,687 shares of the construction company’s stock worth $281,000 after purchasing an additional 448 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter.

About Summit Materials

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.