Shares of Summit Materials (NYSE:SUM) have received a consensus rating of “Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $33.41.

Several research firms have recently commented on SUM. Zacks Investment Research upgraded shares of Summit Materials from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday. Jefferies Group began coverage on shares of Summit Materials in a research report on Tuesday, April 17th. They issued a “buy” rating and a $36.00 price target on the stock. TheStreet upgraded shares of Summit Materials from a “c” rating to a “b” rating in a research report on Monday, March 19th. ValuEngine upgraded shares of Summit Materials from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Goldman Sachs upgraded shares of Summit Materials from a “neutral” rating to a “buy” rating in a research report on Monday, February 26th.

Shares of SUM opened at $28.54 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 2.40 and a debt-to-equity ratio of 1.42. Summit Materials has a twelve month low of $25.61 and a twelve month high of $34.06. The stock has a market cap of $3,177.41, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.84 and a beta of 1.71.

Summit Materials (NYSE:SUM) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.22 by $0.24. The business had revenue of $490.02 million for the quarter, compared to analyst estimates of $449.45 million. Summit Materials had a net margin of 6.19% and a return on equity of 11.51%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 earnings per share. equities analysts anticipate that Summit Materials will post 1.49 EPS for the current year.

In related news, CEO Thomas W. Hill sold 6,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.04, for a total transaction of $201,852.00. Following the transaction, the chief executive officer now owns 152,846 shares of the company’s stock, valued at $4,897,185.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anne Lee Benedict sold 26,167 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.32, for a total transaction of $845,717.44. Following the transaction, the insider now directly owns 27,258 shares in the company, valued at approximately $880,978.56. The disclosure for this sale can be found here. Insiders have sold 583,083 shares of company stock worth $18,144,424 in the last three months. Insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in shares of Summit Materials by 6.0% during the third quarter. Legal & General Group Plc now owns 90,409 shares of the construction company’s stock valued at $2,895,000 after buying an additional 5,096 shares during the period. Swiss National Bank lifted its stake in shares of Summit Materials by 4.7% during the fourth quarter. Swiss National Bank now owns 185,659 shares of the construction company’s stock valued at $5,837,000 after buying an additional 8,263 shares during the period. California Public Employees Retirement System lifted its stake in shares of Summit Materials by 4.6% during the fourth quarter. California Public Employees Retirement System now owns 221,762 shares of the construction company’s stock valued at $6,972,000 after buying an additional 9,762 shares during the period. BlackRock Inc. lifted its stake in shares of Summit Materials by 5.3% during the fourth quarter. BlackRock Inc. now owns 7,056,682 shares of the construction company’s stock valued at $221,864,000 after buying an additional 355,922 shares during the period. Finally, Pier Capital LLC lifted its stake in shares of Summit Materials by 98.6% during the fourth quarter. Pier Capital LLC now owns 194,077 shares of the construction company’s stock valued at $6,102,000 after buying an additional 96,370 shares during the period.

About Summit Materials

Summit Materials, Inc, together with its subsidiaries, produces and sells construction materials and related downstream products. Its products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products. The company also provides paving and related services to private and public infrastructure sectors.

Analyst Recommendations for Summit Materials (NYSE:SUM)

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