Shares of Summit Materials, Inc. (NYSE:SUM – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $46.73.
Several equities analysts recently weighed in on SUM shares. Citigroup increased their price target on shares of Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Stephens boosted their target price on Summit Materials from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Barclays increased their price target on Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. The Goldman Sachs Group upped their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Finally, StockNews.com downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd.
Check Out Our Latest Analysis on SUM
Summit Materials Trading Up 0.4 %
Summit Materials (NYSE:SUM – Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The construction company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. The business had revenue of $773.23 million for the quarter, compared to analyst estimates of $803.98 million. Summit Materials had a return on equity of 7.33% and a net margin of 8.36%. Summit Materials’s quarterly revenue was up 89.9% compared to the same quarter last year. During the same period last year, the company posted ($0.26) earnings per share. On average, equities analysts expect that Summit Materials will post 2.21 earnings per share for the current fiscal year.
Institutional Trading of Summit Materials
A number of hedge funds and other institutional investors have recently bought and sold shares of SUM. Sei Investments Co. raised its holdings in shares of Summit Materials by 20.7% in the 1st quarter. Sei Investments Co. now owns 456,164 shares of the construction company’s stock valued at $20,331,000 after acquiring an additional 78,111 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Summit Materials in the first quarter valued at approximately $1,358,000. Swiss National Bank raised its stake in Summit Materials by 0.6% in the first quarter. Swiss National Bank now owns 235,915 shares of the construction company’s stock valued at $10,515,000 after purchasing an additional 1,500 shares in the last quarter. Oxbow Advisors LLC bought a new stake in Summit Materials during the first quarter valued at approximately $353,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Summit Materials in the 1st quarter worth approximately $102,000.
Summit Materials Company Profile
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.
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