Summit Materials Inc [NYSE: SUM] gained 6.57% or 2.67 points to close at $43.29 with a heavy trading volume of 5096627 shares.
The daily chart for SUM points out that the company has recorded 9.96% gains over the past six months.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
If we look at the average trading volume of 1.02M shares, SUM reached to a volume of 5096627 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $48.06 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 1.56. 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.
Morgan Stanley have made an estimate for Summit Materials Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 26, 2024. The new note on the price target was released on May 15, 2024, representing the official price target for Summit Materials Inc stock. Previously, the target price had yet another raise from $40 to $47, while JP Morgan kept a Overweight rating on SUM stock. On January 12, 2024, analysts decreased their price target for SUM shares from 43 to 38.
The Average True Range (ATR) for Summit Materials Inc is set at 1.47, with the Price to Sales ratio for SUM stock in the period of the last 12 months amounting to 2.25. The Price to Book ratio for the last quarter was 1.75, with the Price to Cash per share for the same quarter was set at 3.07. Price to Free Cash Flow for SUM in the course of the last twelve months was 56.15 with Quick ratio for the last quarter at 2.01.
Trading performance analysis for SUM stock
Summit Materials Inc [SUM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.69. With this latest performance, SUM shares gained by 12.18% in over the last four-week period, additionally plugging by 9.96% over the last 6 months – not to mention a rise of 32.71% 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 68.51, with the RSI for the last a single of trading hit 72.92, and the three-weeks RSI is set at 64.54 for Summit Materials Inc [SUM]. The present Moving Average for the last 50 days of trading for this stock 38.79, while it was recorded at 41.58 for the last single week of trading, and 39.14 for the last 200 days.
Summit Materials Inc [SUM]: A deeper dive into fundamental analysis
Summit Materials Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.01 and a Current Ratio set at 2.62.
Summit Materials Inc [SUM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Summit Materials Inc posted 0.81/share EPS, while the average EPS was predicted by analysts to be reported at 0.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.06. 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 15.10%.
An analysis of Institutional ownership at Summit Materials Inc [SUM]
There are presently around $70.66%, or 103.78%% of SUM stock, in the hands of institutional investors. The top three institutional holders of SUM stocks are: VANGUARD GROUP INC with ownership of 12.23 million shares, which is approximately 6.9658%. BLACKROCK INC., holding 10.27 million shares of the stock with an approximate value of $$376.13 million in SUM stocks shares; and BLACKROCK INC., currently with $$323.38 million in SUM stock with ownership which is approximately 5.0317%.
