Summit Materials (NYSE:SUM) Stock Rating Lowered by StockNews.com

Summit Materials (NYSE:SUM) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other analysts also recently weighed in on SUM. Royal Bank of Canada boosted their target price on Summit Materials from $44.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. started coverage on shares of Summit Materials in a research report on Friday, February 23rd. They set an “overweight” rating and a $47.00 price target for the company. Stephens raised their price objective on Summit Materials from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Citigroup boosted their target price on Summit Materials from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.73.

Summit Materials Stock Performance

NYSE SUM traded up $0.37 on Friday, hitting $39.47. 1,489,451 shares of the stock traded hands, compared to its average volume of 990,985. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.62 and a current ratio of 5.36. The business’s fifty day moving average is $41.72 and its two-hundred day moving average is $38.04. Summit Materials has a 12 month low of $28.57 and a 12 month high of $44.89. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 17.62 and a beta of 1.34.

Summit Materials (NYSE:SUM) last posted its earnings results on Wednesday, May 1st. The construction company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.11. The firm had revenue of $773.23 million for the quarter, compared to the consensus estimate of $803.98 million. Summit Materials had a return on equity of 8.96% and a net margin of 8.36%. The business’s quarterly revenue was up 89.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) earnings per share. As a group, equities analysts anticipate that Summit Materials will post 2.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SUM. Signaturefd LLC grew its position in Summit Materials by 110.3% during the 4th quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock worth $25,000 after purchasing an additional 343 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Summit Materials by 113.7% in the 4th quarter. Parallel Advisors LLC now owns 750 shares of the construction company’s stock valued at $29,000 after buying an additional 399 shares during the period. Register Financial Advisors LLC purchased a new position in Summit Materials during the first quarter valued at approximately $45,000. BluePath Capital Management LLC acquired a new position in shares of Summit Materials in the 3rd quarter valued at $32,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Summit Materials in the third quarter valued at $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.