Summit Materials, Inc. (NYSE:SUM) Shares Bought by Capital Analysts LLC

Capital Analysts LLC increased its stake in Summit Materials, Inc. (NYSE:SUM) by 1.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,933 shares of the construction company’s stock after acquiring an additional 799 shares during the quarter. Capital Analysts LLC owned approximately 0.06% of Summit Materials worth $2,574,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BluePath Capital Management LLC acquired a new stake in shares of Summit Materials in the third quarter worth about $32,000. Benjamin Edwards Inc. lifted its position in shares of Summit Materials by 81.3% in the second quarter. Benjamin Edwards Inc. now owns 939 shares of the construction company’s stock worth $36,000 after buying an additional 421 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Summit Materials in the third quarter worth about $54,000. Register Financial Advisors LLC lifted its position in shares of Summit Materials by 98.3% in the third quarter. Register Financial Advisors LLC now owns 2,017 shares of the construction company’s stock worth $63,000 after buying an additional 1,000 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Summit Materials in the third quarter worth about $77,000.

Analyst Upgrades and Downgrades

SUM has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on Summit Materials from $39.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 14th. Truist Financial boosted their price target on Summit Materials from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. began coverage on Summit Materials in a research note on Friday, February 23rd. They set an “overweight” rating and a $47.00 price target on the stock. Barclays upped their price objective on Summit Materials from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Finally, Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of Summit Materials in a research note on Tuesday, February 13th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.09.

Summit Materials Stock Down 1.7 %

SUM stock traded down $0.67 during trading hours on Tuesday, reaching $39.52. 42,164 shares of the stock were exchanged, compared to its average volume of 961,242. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 16.89 and a beta of 1.32. The firm’s 50-day moving average is $41.69 and its 200-day moving average is $37.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.36 and a quick ratio of 4.62. Summit Materials, Inc. has a 12 month low of $26.18 and a 12 month high of $44.89.

Summit Materials (NYSE:SUM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Summit Materials had a return on equity of 8.73% and a net margin of 10.91%. The company had revenue of $613.13 million during the quarter, compared to analysts’ expectations of $560.90 million. During the same quarter last year, the company earned $0.32 EPS. Summit Materials’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that Summit Materials, Inc. will post 2.28 earnings per share for the current year.

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.