While Summit Materials Inc has overperformed by 2.13%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SUM rose by 44.10%, with highs and lows ranging from $46.97 to $32.32, whereas the simple moving average jumped by 20.34% in the last 200 days.
On October 29, 2024, Barclays Upgraded Summit Materials Inc (NYSE: SUM) to Overweight. A report published by RBC Capital Mkts on October 25, 2024, Upgraded its rating to ‘Outperform’ for SUM. Morgan Stanley also rated SUM shares as ‘Overweight’, setting a target price of $51 on the company’s shares in an initiating report dated August 26, 2024. JP Morgan initiated its ‘Overweight’ rating for SUM, as published in its report on February 23, 2024. RBC Capital Mkts’s report from January 12, 2024 suggests a price prediction of $38 for SUM shares, giving the stock a ‘Sector Perform’ rating. Seaport Research Partners also rated the stock as ‘Buy’.
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.
One of the most important indicators of Summit Materials Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. 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.
For any stock, average volume can also provide valuable insight into volatility, and SUM is recording 1.19M average volume. On a monthly basis, the volatility of the stock is set at 3.36%, whereas on a weekly basis, it is put at 2.93%, with a gain of 9.52% over the past seven days. Furthermore, long-term investors anticipate a median target price of $49.80, showing growth from the present price of $47.41, 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 Building Materials market is dominated by Summit Materials Inc (SUM) based in the USA. 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 22.06, there is a growth in quarterly earnings of -14.03%.
Along with the fundamentals, it is also important to consider how many employees own shares of 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 70.01% 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 70.01% at present.
