While Summit Materials Inc has overperformed by 3.01%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SUM rose by 16.95%, with highs and lows ranging from $44.89 to $30.83, whereas the simple moving average fell by -2.72% 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.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Summit Materials Inc’s future performance, with equity being one of the most critical indicators. 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and SUM is recording an average volume of 955.26K. On a monthly basis, the volatility of the stock is set at 2.97%, whereas on a weekly basis, it is put at 2.81%, with a gain of 1.72% over the past seven days. Furthermore, long-term investors anticipate a median target price of $48.06, showing growth from the present price of $37.94, 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?
Summit Materials Inc (SUM) is based in the USA and is one of the most prominent companies operating in the Building Materials market. 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 17.65, there is a growth in quarterly earnings of -14.03%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 69.80% 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 69.80% at present.
