The stock of Summit Materials Inc (SUM) has gone up by 1.92% for the week, with a 3.39% rise in the past month and a 7.64% rise in the past quarter. The volatility ratio for the week is 2.82%, and the volatility levels for the past 30 days are 2.70% for SUM. The simple moving average for the past 20 days is 3.65% for SUM’s stock, with a 3.09% simple moving average for the past 200 days.
Is It Worth Investing in Summit Materials Inc (NYSE: SUM) Right Now?
The price-to-earnings ratio for Summit Materials Inc (NYSE: SUM) is 18.75x, which is above its average ratio. Moreover, the 36-month beta value for SUM is 1.17. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 7 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for SUM is 119.52M and currently, short sellers hold a 3.58% of that float. On October 23, 2024, SUM’s average trading volume was 993.74K shares.
SUM) stock’s latest price update
Summit Materials Inc (NYSE: SUM) has seen a decline in its stock price by -2.73 in relation to its previous close of 41.43. However, the company has experienced a 1.92% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-10-15 that DENVER, Oct. 15, 2024 /PRNewswire/ — Summit Materials, Inc. (NYSE: SUM, “Summit” or the “Company”), a leading vertically integrated construction materials company, today announced that it will release third quarter 2024 financial results after the market closes on Wednesday, October 30, 2024. A conference call will be held on Thursday, October 31, 2024, at 11:00 a.m.
Analysts’ Opinion of SUM
Many brokerage firms have already submitted their reports for SUM stocks, with Morgan Stanley repeating the rating for SUM by listing it as a “Overweight.” The predicted price for SUM in the upcoming period, according to Morgan Stanley is $51 based on the research report published on August 26, 2024 of the current year 2024.
Wolfe Research, on the other hand, stated in their research note that they expect to see SUM reach a price target of $49. The rating they have provided for SUM stocks is “Outperform” according to the report published on May 15th, 2024.
JP Morgan gave a rating of “Overweight” to SUM, setting the target price at $47 in the report published on February 23rd of the current year.
SUM Trading at 4.28% from the 50-Day Moving Average
After a stumble in the market that brought SUM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.23% of loss for the given period.
Volatility was left at 2.70%, however, over the last 30 days, the volatility rate increased by 2.82%, as shares surge +4.49% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.35% upper at present.
During the last 5 trading sessions, SUM rose by +1.92%, which changed the moving average for the period of 200-days by +9.48% in comparison to the 20-day moving average, which settled at $38.88. In addition, Summit Materials Inc saw 4.78% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SUM starting from Ghelani Kekin, who proposed sale 17,936 shares at the price of $38.71 back on Oct 01 ’24. After this action, Ghelani Kekin now owns shares of Summit Materials Inc, valued at $694,303 using the latest closing price.
Kilgore Jason, the of Summit Materials Inc, sale 50,589 shares at $40.21 during a trade that took place back on May 13 ’24, which means that Kilgore Jason is holding 60,630 shares at $2,033,951 based on the most recent closing price.
Stock Fundamentals for SUM
Current profitability levels for the company are sitting at:
- 0.12 for the present operating margin
- 0.22 for the gross margin
The net margin for Summit Materials Inc stands at 0.08. The total capital return value is set at 0.05. Equity return is now at value 8.52, with 4.28 for asset returns.
Based on Summit Materials Inc (SUM), the company’s capital structure generated 0.39 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 0.65. The interest coverage ratio of the stock is 2.43.
Currently, EBITDA for the company is 546.7 million with net debt to EBITDA at 2.74. When we switch over and look at the enterprise to sales, we see a ratio of 2.8. The receivables turnover for the company is 5.78for trailing twelve months and the total asset turnover is 0.41. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.62.
Conclusion
To wrap up, the performance of Summit Materials Inc (SUM) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
