Summit Materials (NYSE:SUM) Given Peer Perform Rating at Wolfe Research

Wolfe Research restated their peer perform rating on shares of Summit Materials (NYSE:SUM) in a research report report published on Tuesday,Benzinga reports.

SUM has been the subject of a number of other reports. Citigroup reissued a “neutral” rating and issued a $52.50 price objective (down from $55.00) on shares of Summit Materials in a research note on Tuesday. Morgan Stanley began coverage on Summit Materials in a research note on Monday, August 26th. They issued an “overweight” rating and a $51.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $52.50 price target (down from $54.00) on shares of Summit Materials in a report on Monday. StockNews.com downgraded shares of Summit Materials from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, DA Davidson boosted their price target on shares of Summit Materials from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Summit Materials has a consensus rating of “Hold” and a consensus price target of $50.81.

Summit Materials Stock Performance

NYSE:SUM opened at $50.85 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The stock has a 50-day simple moving average of $43.52 and a two-hundred day simple moving average of $40.11. The firm has a market capitalization of $8.93 billion, a PE ratio of 62.01 and a beta of 1.14. Summit Materials has a 52-week low of $34.38 and a 52-week high of $53.49.

Summit Materials (NYSE:SUM) last announced its quarterly earnings data 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. Summit Materials had a return on equity of 6.90% and a net margin of 3.92%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue was up 49.9% on a year-over-year basis. Analysts forecast that Summit Materials will post 1.64 EPS for the current year.

Hedge Funds Weigh In On Summit Materials

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Summit Materials during the third quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Summit Materials during the third quarter worth approximately $28,000. Toth Financial Advisory Corp boosted its holdings in shares of Summit Materials by 147.1% in the third quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. International Assets Investment Management LLC grew its stake in Summit Materials by 3,804.2% in the third quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock worth $37,000 after purchasing an additional 913 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Summit Materials during the 2nd quarter worth $40,000.

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.