Summit Materials (NYSE:SUM) Sets New 1-Year High at $22.75

Summit Materials Inc (NYSE:SUM) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.75 and last traded at $22.64, with a volume of 1196 shares. The stock had previously closed at $22.60.

A number of research analysts recently weighed in on SUM shares. JPMorgan Chase & Co. lifted their price objective on shares of Summit Materials from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Zacks Investment Research upgraded Summit Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 6th. ValuEngine raised Summit Materials from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Barclays set a $18.00 price target on Summit Materials and gave the company a “hold” rating in a research report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.30.

The business’s 50-day moving average price is $19.82 and its 200 day moving average price is $17.53. The company has a quick ratio of 1.38, a current ratio of 2.06 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $2.47 billion, a P/E ratio of 150.47 and a beta of 2.16.

Summit Materials (NYSE:SUM) last posted its earnings results on Thursday, August 1st. The construction company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). Summit Materials had a return on equity of 1.68% and a net margin of 0.94%. The firm had revenue of $600.90 million for the quarter, compared to the consensus estimate of $583.06 million. During the same period last year, the company posted $0.32 EPS. The business’s revenue was up .0% on a year-over-year basis. Analysts anticipate that Summit Materials Inc will post 0.62 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new position in shares of Summit Materials in the second quarter worth $154,000. Intact Investment Management Inc. purchased a new stake in shares of Summit Materials in the 1st quarter valued at about $170,000. Financial Counselors Inc. purchased a new stake in shares of Summit Materials in the 1st quarter valued at about $175,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Summit Materials by 48.6% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 11,795 shares of the construction company’s stock valued at $187,000 after acquiring an additional 3,860 shares during the last quarter. Finally, Skylands Capital LLC bought a new stake in shares of Summit Materials during the 2nd quarter valued at about $193,000.

Summit Materials Company Profile (NYSE:SUM)

Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in 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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