Shares of Summit Materials, Inc. (NYSE:SUM – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $47.17.
Several equities analysts recently issued reports on SUM shares. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of Summit Materials in a research note on Wednesday, August 7th. Morgan Stanley started coverage on Summit Materials in a research note on Monday, August 26th. They set an “overweight” rating and a $51.00 target price on the stock. Stifel Nicolaus decreased their target price on Summit Materials from $55.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial decreased their target price on Summit Materials from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their target price on Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th.
View Our Latest Analysis on Summit Materials
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Summit Materials Stock Performance
Shares of Summit Materials stock opened at $43.28 on Friday. Summit Materials has a 52 week low of $30.83 and a 52 week high of $46.03. The business’s fifty day simple moving average is $38.73 and its 200-day simple moving average is $38.70. The firm has a market cap of $7.59 billion, a PE ratio of 19.32 and a beta of 1.17. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 0.64.
Summit Materials (NYSE:SUM – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. Summit Materials had a return on equity of 7.00% and a net margin of 8.06%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was up 58.1% on a year-over-year basis. Equities analysts forecast that Summit Materials will post 1.63 earnings per share for the current year.
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.
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