While Summit Materials Inc has overperformed by 0.05%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SUM rose by 27.49%, with highs and lows ranging from $44.89 to $29.98, whereas the simple moving average fell by -1.02% in the last 200 days.
On August 26, 2024, Morgan Stanley started tracking Summit Materials Inc (NYSE: SUM) recommending Overweight. A report published by Wolfe Research on May 15, 2024, Upgraded its rating to ‘Outperform’ for SUM. JP Morgan also rated SUM shares as ‘Overweight’, setting a target price of $47 on the company’s shares in an initiating report dated February 23, 2024. RBC Capital Mkts January 12, 2024d the rating to Sector Perform on January 12, 2024, and set its price target from $43 to $38. Seaport Research Partners October 24, 2023d its ‘Neutral’ rating to ‘Buy’ for SUM, as published in its report on October 24, 2023. Exane BNP Paribas also rated the stock as ‘Neutral’.
Analysis of Summit Materials Inc (SUM)
Further, the quarter-over-quarter increase in sales is 53.37%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Summit Materials Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of 8.52% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.01, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 990.49K can be a very valuable indicator of volatility for SUM stock. On a monthly basis, the volatility of the stock is set at 3.24%, whereas on a weekly basis, it is put at 2.65%, with a loss of -1.43% over the past seven days. Furthermore, long-term investors anticipate a median target price of $48.81, showing growth from the present price of $38.59, which can serve as yet another indication of whether SUM is worth investing in or should be passed over.
How Do You Analyze Summit Materials Inc Shares?
The USA based company Summit Materials Inc (SUM) is one of the biggest names in Building Materials. When comparing Summit Materials Inc shares with other companies under Basic Materials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 17.96, there is a growth in quarterly earnings of -14.03%.
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 31.93%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 69.79% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SUM shares are owned by institutional investors to the tune of 69.79% at present.
