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

Shares of Summit Materials, Inc. (NYSE:SUMGet Rating) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $39.40.

SUM has been the subject of several research analyst reports. Morgan Stanley lowered their price target on Summit Materials from $42.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, April 18th. Zacks Investment Research lowered Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 28th. StockNews.com upgraded Summit Materials from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Barclays lifted their target price on Summit Materials from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, January 13th.

A number of institutional investors have recently bought and sold shares of SUM. Moors & Cabot Inc. raised its stake in Summit Materials by 301.8% in the third quarter. Moors & Cabot Inc. now owns 30,000 shares of the construction company’s stock valued at $30,000 after buying an additional 22,534 shares in the last quarter. UMB Bank N A MO acquired a new stake in Summit Materials in the fourth quarter valued at $35,000. Lazard Asset Management LLC acquired a new stake in Summit Materials in the fourth quarter valued at $47,000. Eaton Vance Management acquired a new stake in Summit Materials in the third quarter valued at $48,000. Finally, Wolverine Asset Management LLC acquired a new stake in Summit Materials in the first quarter valued at $62,000.

Shares of Summit Materials stock opened at $27.20 on Monday. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 23.05 and a beta of 1.30. Summit Materials has a fifty-two week low of $26.40 and a fifty-two week high of $41.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.81. The stock has a 50 day moving average of $29.75 and a 200 day moving average of $34.70.

Summit Materials (NYSE:SUMGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The construction company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Summit Materials had a return on equity of 7.00% and a net margin of 5.84%. The firm had revenue of $392.50 million for the quarter, compared to analysts’ expectations of $395.55 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts forecast that Summit Materials will post 1.47 EPS for the current year.

Summit Materials Company Profile (Get Rating)

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.

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