Summit Materials Inc (NYSE: SUM) has seen a decline in its stock price by -0.63 in relation to its previous close of 48.99. However, the company has experienced a -4.55% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-31 that Summit Materials, Inc. (NYSE:SUM ) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Andy Larkin – Vice President of Investor Relations Anne Noonan – Chief Executive Officer Scott Anderson – Chief Financial Officer Conference Call Participants Philip Ng – Jefferies Trey Grooms – Stephens Garik Shmois – Loop Capital Asher Sohnen – Citigroup Kathryn Thompson – Thompson Research Group Angel Castillo – Morgan Stanley Timna Tanners – Wolfe Research Rohit Seth – Seaport Research Partners Keith Hughes – Truist Securities Adam Thalhimer – Thompson Davis & Co. Jerry Revich – Goldman Sachs Mike Dahl – RBC Capital Markets Operator Thank you for standing by. My name is Mandeep, and I’ll be your operator today.
Is It Worth Investing in Summit Materials Inc (NYSE: SUM) Right Now?
The price-to-earnings ratio for Summit Materials Inc (NYSE: SUM) is above average at 59.05x, Company’s 36-month beta value is 1.14.Analysts have differing 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 119.53M, and currently, short sellers hold a 3.11% ratio of that floaft. The average trading volume of SUM on November 14, 2024 was 1.26M shares.
SUM’s Market Performance
SUM’s stock has seen a -4.55% decrease for the week, with a 23.12% rise in the past month and a 22.77% gain in the past quarter. The volatility ratio for the week is 2.62%, and the volatility levels for the past 30 days are at 3.41% for Summit Materials Inc The simple moving average for the past 20 days is 5.69% for SUM’s stock, with a 21.82% simple moving average for the past 200 days.
Analysts’ Opinion of SUM
Many brokerage firms have already submitted their reports for SUM stocks, with Barclays repeating the rating for SUM by listing it as a “Overweight.” The predicted price for SUM in the upcoming period, according to Barclays is $52 based on the research report published on October 29, 2024 of the current year 2024.
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see SUM reach a price target of $53, previously predicting the price at $45. The rating they have provided for SUM stocks is “Outperform” according to the report published on October 25th, 2024.
Morgan Stanley gave a rating of “Overweight” to SUM, setting the target price at $51 in the report published on August 26th of the current year.
SUM Trading at 18.02% 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 -5.91% of loss for the given period.
Volatility was left at 3.41%, however, over the last 30 days, the volatility rate increased by 2.62%, as shares surge +19.75% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +32.17% upper at present.
During the last 5 trading sessions, SUM fell by -4.55%, which changed the moving average for the period of 200-days by +29.61% in comparison to the 20-day moving average, which settled at $46.06. In addition, Summit Materials Inc saw 26.57% 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:
- 0.13 for the present operating margin
- 0.19 for the gross margin
The net margin for Summit Materials Inc stands at 0.04. The total capital return value is set at 0.06. Equity return is now at value 4.37, with 2.30 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 0.19. The debt to equity ratio resting at 0.63. The interest coverage ratio of the stock is 2.49.
Currently, EBITDA for the company is 546.7 million with net debt to EBITDA at 2.62. When we switch over and look at the enterprise to sales, we see a ratio of 2.89. The receivables turnover for the company is 6.1for trailing twelve months and the total asset turnover is 0.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.10.
Conclusion
In a nutshell, Summit Materials Inc (SUM) has experienced a better performance in recent times. The stock has received mixed “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.
