Summit Materials’ (SUM) Hold Rating Reiterated at Loop Capital

Loop Capital reaffirmed their hold rating on shares of Summit Materials (NYSE:SUM) in a research report report published on Tuesday, Marketbeat.com reports. Loop Capital currently has a $52.50 price objective on the construction company’s stock, down from their previous price objective of $54.00.

A number of other equities research analysts have also commented on SUM. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $52.50 price target (up previously from $43.00) on shares of Summit Materials in a research report on Monday, November 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $52.50 price objective (down from $54.00) on shares of Summit Materials in a report on Monday, November 25th. Jefferies Financial Group lowered their price objective on shares of Summit Materials from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Barclays raised Summit Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $45.00 to $52.00 in a report on Tuesday, October 29th. Finally, Citigroup reiterated a “neutral” rating and issued a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.81.

Summit Materials Stock Down 0.3 %

Shares of SUM opened at $50.94 on Tuesday. The business’s 50 day simple moving average is $44.21 and its 200-day simple moving average is $40.34. Summit Materials has a one year low of $34.38 and a one year high of $53.49. The company has a market capitalization of $8.95 billion, a P/E ratio of 62.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48.

Summit Materials (NYSE:SUM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. Summit Materials had a net margin of 3.92% and a return on equity of 6.90%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 49.9% on a year-over-year basis. As a group, sell-side analysts predict that Summit Materials will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Summit Materials

A number of large investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Summit Materials in the 3rd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Summit Materials during the third quarter valued at about $28,000. Toth Financial Advisory Corp lifted its holdings in Summit Materials by 147.1% in the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock worth $33,000 after buying an additional 500 shares during the period. International Assets Investment Management LLC increased its position in Summit Materials by 3,804.2% during the 3rd quarter. International Assets Investment Management LLC now owns 937 shares of the construction company’s stock valued at $37,000 after purchasing an additional 913 shares during the period. Finally, Quest Partners LLC purchased a new stake in Summit Materials in the second quarter worth $40,000.

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.