Summit Materials, Inc. (NYSE:SUM – Get Free Report) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $46.73.
Several equities research analysts have recently commented on the company. StockNews.com cut Summit Materials from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Royal Bank of Canada upped their price objective on shares of Summit Materials from $44.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Citigroup lifted their target price on shares of Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group upped their price objective on Summit Materials from $43.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Finally, 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 report on Thursday, March 14th.
Check Out Our Latest Report on SUM
Institutional Investors Weigh In On Summit Materials
Summit Materials Price Performance
Shares of NYSE:SUM opened at $40.60 on Friday. Summit Materials has a one year low of $29.98 and a one year high of $44.89. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 18.13 and a beta of 1.34. The company has a 50-day simple moving average of $41.50 and a 200-day simple moving average of $38.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.93 and a current ratio of 2.58.
Summit Materials (NYSE:SUM – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The construction company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.11. Summit Materials had a return on equity of 7.33% and a net margin of 8.36%. The firm had revenue of $773.23 million during the quarter, compared to the consensus estimate of $803.98 million. During the same period in the prior year, the business earned ($0.26) EPS. The firm’s revenue was up 89.9% compared to the same quarter last year. On average, analysts predict that Summit Materials will post 2.21 EPS for the current year.
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.
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