Summit Materials Inc. [SUM] moved down -5.02: Why It’s Important

Summit Materials Inc. [NYSE: SUM] stock went on a downward path that fall over -5.02% on Wednesday, amounting to a one-week price increase of more than 7.40%. The company report on March 31, 2021 that Summit Materials Elevates Two to Senior Leadership & Creates Two New Roles.

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Anderson, Gaskill and MacMillan take on key senior leadership roles within Summit Materials.

Summit Materials, Inc. (NYSE: SUM, “Summit,” or the “Company”), a leading vertically integrated construction materials company, has named three senior leadership positions poised to drive the strategic agenda of newly named CEO, Anne Noonan.

Over the last 12 months, SUM stock rose by 86.80%. The one-year Summit Materials Inc. stock forecast points to a potential downside of -1.16. The average equity rating for SUM stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.04 billion, with 115.08 million shares outstanding and 113.47 million shares in the current float. Compared to the average trading volume of 1.48M shares, SUM stock reached a trading volume of 2667105 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Summit Materials Inc. [SUM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SUM shares is $27.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SUM stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Summit Materials Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 06, 2021. While these analysts kept the previous recommendation, UBS raised their target price to Sell. The new note on the price target was released on December 09, 2020, representing the official price target for Summit Materials Inc. stock. Previously, the target price had yet another raise to $20, while JP Morgan analysts kept a Overweight rating on SUM stock.

The Average True Range (ATR) for Summit Materials Inc. is set at 1.67, with the Price to Sales ratio for SUM stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 3.85. Price to Free Cash Flow for SUM in the course of the last twelve months was 13.12 with Quick ratio for the last quarter at 2.10.

SUM Stock Performance Analysis:

Summit Materials Inc. [SUM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.40. With this latest performance, SUM shares gained by 1.85% in over the last four-week period, additionally plugging by 72.22% over the last 6 months – not to mention a rise of 86.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SUM stock in for the last two-week period is set at 52.01, with the RSI for the last a single of trading hit 49.70, and the three-weeks RSI is set at 53.84 for Summit Materials Inc. [SUM]. The present Moving Average for the last 50 days of trading for this stock 26.06, while it was recorded at 28.47 for the last single week of trading, and 19.95 for the last 200 days.

Insight into Summit Materials Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Summit Materials Inc. [SUM] shares currently have an operating margin of +9.33 and a Gross Margin at +22.60. Summit Materials Inc.’s Net Margin is presently recorded at +5.92.

Return on Total Capital for SUM is now 6.22, given the latest momentum, and Return on Invested Capital for the company is 4.01. Return on Equity for this stock inclined to 9.12, with Return on Assets sitting at 3.29. When it comes to the capital structure of this company, Summit Materials Inc. [SUM] has a Total Debt to Total Equity ratio set at 124.22. Additionally, SUM Total Debt to Total Capital is recorded at 55.40, with Total Debt to Total Assets ending up at 46.07. Long-Term Debt to Equity for the company is recorded at 121.77, with the Long-Term Debt to Total Capital now at 54.31.

Reflecting on the efficiency of the workforce at the company, Summit Materials Inc. [SUM] managed to generate an average of $22,995 per employee. Receivables Turnover for the company is 8.81 with a Total Asset Turnover recorded at a value of 0.56.Summit Materials Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.80.

SUM Stock EPS

With the latest financial reports released by the company, Summit Materials Inc. posted -0.48/share EPS, while the average EPS was predicted by analysts to be reported at -0.47/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SUM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Summit Materials Inc. go to 5.00%.

Summit Materials Inc. [SUM] Insider Position Details

There are presently around $3,243 million, in the hands of institutional investors. The top three institutional holders of SUM stocks are: VANGUARD GROUP INC with ownership of 10,114,569, which is approximately 2.556% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 9,356,687 shares of the stock with an approximate value of $262.17 million in SUM stocks shares; and FMR LLC, currently with $253.71 million in SUM stock with ownership of nearly -10.173% of the company’s market capitalization.

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Positions in Summit Materials Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 121 institutional holders increased their position in Summit Materials Inc. [NYSE:SUM] by around 13,615,244 shares. Additionally, 102 investors decreased positions by around 16,713,071 shares, while 28 investors held positions by with 85,401,764 shares. The mentioned changes placed institutional holdings at 115,730,079 shares, according to the latest SEC report filing. SUM stock had 44 new institutional investments in for a total of 2,715,643 shares, while 37 institutional investors sold positions of 3,715,629 shares during the same period.

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