Wolfe Research Reiterates “Peer Perform” Rating for Summit Materials (NYSE:SUM)

Summit Materials (NYSE:SUM)‘s stock had its “peer perform” rating restated by equities researchers at Wolfe Research in a note issued to investors on Tuesday,Benzinga reports.

Several other research analysts have also recently weighed in on the stock. DA Davidson upped their price target on shares of Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Loop Capital reaffirmed 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. Royal Bank of Canada reaffirmed 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. Citigroup reaffirmed a “neutral” rating and issued a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a report on Tuesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $47.00 price target on shares of Summit Materials in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.81.

Summit Materials Trading Up 0.5 %

Shares of SUM stock opened at $51.09 on Tuesday. The company’s fifty day simple moving average is $43.76 and its two-hundred day simple moving average is $40.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials has a 1 year low of $34.38 and a 1 year high of $53.49. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 62.30 and a beta of 1.14.

Summit Materials (NYSE:SUM) last issued its earnings results on Wednesday, October 30th. The construction company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The business’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. As a group, analysts anticipate that Summit Materials will post 1.64 earnings per share for the current year.

Institutional Trading of Summit Materials

Several institutional investors have recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. boosted its position in Summit Materials by 5.8% during the second 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 during the period. Assetmark Inc. raised its stake in shares of Summit Materials by 6.3% during the third quarter. Assetmark Inc. now owns 6,913 shares of the construction company’s stock valued at $270,000 after acquiring an additional 411 shares during the last quarter. Waycross Investment Management Co raised 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 valued at $1,504,000 after acquiring an additional 412 shares during the last quarter. Xponance Inc. raised 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 valued at $281,000 after acquiring an additional 448 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its stake in shares of Summit Materials by 147.1% during the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after acquiring 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.