Summit Materials (NYSE:SUM – Get Rating) had its price objective hoisted by The Goldman Sachs Group from $25.00 to $28.00 in a research note issued to investors on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.
SUM has been the topic of a number of other reports. DA Davidson dropped their price target on Summit Materials from $33.00 to $31.00 in a research note on Wednesday, October 12th. Truist Financial assumed coverage on Summit Materials in a research note on Friday, January 13th. They issued a buy rating and a $40.00 price target on the stock. Morgan Stanley raised their price target on Summit Materials from $30.00 to $32.00 and gave the stock an equal weight rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Summit Materials from $37.00 to $34.00 in a research note on Thursday, December 8th. Finally, Jefferies Financial Group dropped their price target on Summit Materials from $38.00 to $36.00 and set a buy rating on the stock in a research note on Monday, October 3rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Summit Materials currently has a consensus rating of Moderate Buy and a consensus price target of $34.10.
Summit Materials Stock Up 0.7 %
Summit Materials stock opened at $31.66 on Monday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 13.36 and a beta of 1.36. The stock has a fifty day simple moving average of $30.03 and a two-hundred day simple moving average of $28.10. Summit Materials has a 12 month low of $21.99 and a 12 month high of $36.44. The company has a current ratio of 3.39, a quick ratio of 2.76 and a debt-to-equity ratio of 0.76.
Summit Materials Dividend Announcement
The firm also recently disclosed a — dividend, which was paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th were given a $1.70 dividend. The ex-dividend date was Wednesday, December 14th.
Hedge Funds Weigh In On Summit Materials
Large investors have recently made changes to their positions in the business. John G Ullman & Associates Inc. lifted its position in shares of Summit Materials by 589.6% in the second quarter. John G Ullman & Associates Inc. now owns 142,750 shares of the construction company’s stock valued at $3,325,000 after acquiring an additional 122,050 shares in the last quarter. Assetmark Inc. lifted its position in shares of Summit Materials by 271.0% in the second quarter. Assetmark Inc. now owns 1,443 shares of the construction company’s stock valued at $34,000 after acquiring an additional 1,054 shares in the last quarter. Ellevest Inc. lifted its position in shares of Summit Materials by 81.7% in the second quarter. Ellevest Inc. now owns 1,214 shares of the construction company’s stock valued at $28,000 after acquiring an additional 546 shares in the last quarter. River Road Asset Management LLC bought a new stake in shares of Summit Materials in the second quarter worth about $16,566,000. Finally, Paradigm Capital Management Inc. NY increased its holdings in shares of Summit Materials by 28.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 738,200 shares of the construction company’s stock worth $17,192,000 after purchasing an additional 164,000 shares during the last quarter.
About Summit Materials
Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.
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