2 weeks Ago By ABMN Staff
Summit Materials, Inc. ( NYSE:SUM – Get Free Report ) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 4,140,000 shares, a drop of 13.
8% from the August 31st total of 4,800,000 shares. Based on an average daily trading volume, of 987,300 shares, the short-interest ratio is currently 4.2 days.
Wall Street Analyst Weigh In A number of research analysts recently issued reports on the company. Citigroup lifted their price target on Summit Materials from $44.00 to $47.
00 and gave the company a “buy” rating in a report on Thursday, August 8th. Stephens reissued an “overweight” rating and issued a $47.00 price target on shares of Summit Materials in a report on Tuesday, August 6th.
Stifel Nicolaus reduced their price objective on Summit Materials from $55.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd.
Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 target price on shares of Summit Materials in a research note on Wednesday, August 7th. Finally, Morgan Stanley assumed coverage on Summit Materials in a research note on Monday, August 26th.
They set an “overweight” rating and a $51.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company.
According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.40. Check Out Our Latest Stock Analysis on Summit Materials Summit Materials Trading Down 1.
3 % Summit Materials ( NYSE:SUM – Get Free Report ) last released its quarterly earnings data on Monday, August 5th. The construction company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.
61 by $0.05. The business had revenue of $1.
08 billion for the quarter, compared to analyst estimates of $1.14 billion. Summit Materials had a net margin of 8.
06% and a return on equity of 7.00%. Summit Materials’s quarterly revenue was up 58.
1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS.
On average, equities analysts expect that Summit Materials will post 1.67 earnings per share for the current year. Institutional Trading of Summit Materials A number of large investors have recently made changes to their positions in the company.
Vanguard Group Inc. increased its stake in Summit Materials by 2.2% during the 1st quarter.
Vanguard Group Inc. now owns 12,240,546 shares of the construction company’s stock worth $545,561,000 after purchasing an additional 262,179 shares in the last quarter. Price T Rowe Associates Inc.
MD lifted its position in Summit Materials by 0.3% during the 1st quarter. Price T Rowe Associates Inc.
MD now owns 8,837,110 shares of the construction company’s stock worth $393,871,000 after buying an additional 22,840 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Summit Materials by 6.
6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,210,736 shares of the construction company’s stock worth $263,985,000 after buying an additional 448,922 shares during the last quarter.
Principal Financial Group Inc. boosted its stake in shares of Summit Materials by 1.2% during the 1st quarter.
Principal Financial Group Inc. now owns 5,324,077 shares of the construction company’s stock worth $237,294,000 after buying an additional 64,128 shares during the last quarter. Finally, Victory Capital Management Inc.
increased its position in shares of Summit Materials by 7.0% in the second quarter. Victory Capital Management Inc.
now owns 3,678,485 shares of the construction company’s stock valued at $134,669,000 after acquiring an additional 241,757 shares during the last quarter. About Summit Materials ( Get Free Report ) 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. Featured Stories Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter .
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