Summit Materials (NYSE:SUM) Price Target Increased to $50.00 by Analysts at Stephens

Summit Materials (NYSE:SUM) had its price target increased by analysts at Stephens from $47.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Stephens’ price objective indicates a potential upside of 26.71% from the stock’s current price.

SUM has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on Summit Materials from $44.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday. The Goldman Sachs Group increased their price target on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Citigroup raised their price objective on shares of Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Barclays upped their target price on shares of Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, Truist Financial boosted their price target on shares of Summit Materials from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.73.

Summit Materials Trading Up 0.9 %

NYSE SUM opened at $39.46 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.36 and a quick ratio of 4.62. The stock has a market capitalization of $6.88 billion, a P/E ratio of 17.62 and a beta of 1.34. The firm’s 50-day moving average is $41.66 and its two-hundred day moving average is $38.12. Summit Materials has a 12 month low of $28.57 and a 12 month high of $44.89.

Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Wednesday, May 1st. The construction company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.11. Summit Materials had a net margin of 8.36% and a return on equity of 8.96%. The firm had revenue of $773.23 million for the quarter, compared to analyst estimates of $803.98 million. During the same period in the prior year, the business posted ($0.26) EPS. The business’s revenue for the quarter was up 89.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Summit Materials will post 2.21 earnings per share for the current year.

Institutional Trading of Summit Materials

A number of institutional investors have recently bought and sold shares of SUM. Signaturefd LLC increased its holdings in shares of Summit Materials by 110.3% in the 4th quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock valued at $25,000 after acquiring an additional 343 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Summit Materials by 113.7% in the fourth quarter. Parallel Advisors LLC now owns 750 shares of the construction company’s stock valued at $29,000 after purchasing an additional 399 shares in the last quarter. BluePath Capital Management LLC purchased a new position in Summit Materials in the third quarter valued at approximately $32,000. Register Financial Advisors LLC acquired a new stake in Summit Materials during the first quarter worth approximately $45,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Summit Materials during the 3rd quarter worth approximately $54,000.

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.