Ultime notizie per Summit Materials (NYSE:SUM) Azioni

Summit Materials

Summit Materials Inc is engaged in the production and sale of aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, two cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. It is also engaged in paving and related services. The Company's three operating and reporting segments are the West, East and Cement segments. It operates in 21 U.S. states and in British Columbia, Canada and has assets in 21 U.S. states and in British Columbia, Canada through its platform.

Summit Materials, Inc. Class A Common Stock

Summit Materials Inc

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SUMMER ENERGY HLDGS INC by Summer Energy Holdings, Inc.

Summer Energy Holdings Inc

SUMITOMO SEIKA CHEMICALS by Sumitomo Seika Chemicals Co. Ltd.

Sumitomo Seika Chemicals Co Ltd

Supremex Inc

Summit Materials's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) short percent of float has fallen 14.2% since its last report. The company recently reported that it has 3.19 million shares sold short, which is 2.96% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.07 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Summit Materials Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732725911_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Summit Materials has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Summit Materials's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Summit Materials's peer group average for short interest as a percentage of float is 2.28%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Summit Materials's Recent Short Interest

Wolfe Research analyst Timna Tanners downgrades Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Outperform to Peer Perform.

News

Downgrades

Analyst Ratings

Wolfe Research Downgrades Summit Materials to Peer Perform

Truist Securities analyst Keith Hughes downgrades Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Buy to Hold and lowers the price target from $60 to $52.5.

Price Target

Truist Securities Downgrades Summit Materials to Hold, Lowers Price Target to $52.5

Citigroup analyst Anthony Pettinari downgrades Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Buy to Neutral and lowers the price target from $55 to $52.5.

Citigroup Downgrades Summit Materials to Neutral, Lowers Price Target to $52.5

Loop Capital analyst Garik Shmois downgrades Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Buy to Hold and lowers the price target from $54 to $52.5.

Loop Capital Downgrades Summit Materials to Hold, Lowers Price Target to $52.5

Longbow Research analyst David Macgregor downgrades Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Buy to Neutral.

Longbow Research Downgrades Summit Materials to Neutral

Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) underwent analysis by 11 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">3</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $50.73, a high estimate of $60.00, and a low estimate of $41.00. Witnessing a positive shift, the current average has risen by 6.29% from the previous average price target of $47.73.
<img src="https://www.benzinga.com/files/images/story/2024/1732561279_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The perception of Summit Materials by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Adrian Heurta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$52.50</td>
<td>$43.00</td>
</tr>
<tr>
<td>Mike Dahl</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$52.50</td>
<td>$54.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$47.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Garik Shmois</td>
<td>Loop Capital</td>
<td>Raises</td>
<td>Buy</td>
<td>$54.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Mike Dahl</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$54.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Keith Hughes</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$60.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$52.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$41.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Philip Ng</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$56.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Anthony Pettinari</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$46.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Adrian Heurta</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$43.00</td>
<td>$47.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Summit Materials. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Summit Materials compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Summit Materials's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Summit Materials's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SUM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Summit Materials analyst ratings.</a>
<h2>Discovering Summit Materials: A Closer Look</h2>
Summit Materials Inc is engaged in the production and sale of aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, two cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. It is also engaged in paving and related services. The Company's three operating and reporting segments are the West, East and Cement segments. It operates in 21 U.S. states and in British Columbia, Canada and has assets in 21 U.S. states and in British Columbia, Canada through its platform.
<h3>Key Indicators: Summit Materials's Financial Health</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Summit Materials's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 47.35% as of 30 September, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Materials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 8.98%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Summit Materials's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 2.4%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Summit Materials's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.26%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Summit Materials's debt-to-equity ratio stands notably higher than the industry average, reaching 0.65. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into Summit Materials Stock: Analyst Perspectives (11 Ratings)

JP Morgan analyst Adrian Heurta downgrades Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Overweight to Neutral and raises the price target from $43 to $52.5.

JP Morgan Downgrades Summit Materials to Neutral, Raises Price Target to $52.5

RBC Capital analyst Mike Dahl downgrades Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) from Outperform to Sector Perform and lowers the price target from $54 to $52.5.

RBC Capital Downgrades Summit Materials to Sector Perform, Lowers Price Target to $52.5

Summit Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) shares are trading higher on Monday. The company inked a definitive deal to be acquired by privately owned family business Quikrete Holdings for $52.50 per share in cash, valuing the transaction at <a href="https://www.benzinga.com/pressreleases/24/11/n42159941/summit-materials-enters-into-definitive-agreement-to-be-acquired-by-quikrete-for-52-50-per-share-i" target="_blank" rel="noreferrer noopener">approximately $11.5 billion, including debt</a>.
The deal price&nbsp;represents a 36% premium to Summit&#8217;s 90-day volume-weighted average price and a 29% premium to its unaffected share price. In October, Summit Materials disclosed receiving<a target="_blank" href="https://www.benzinga.com//node/41535519" rel="noreferrer noopener"> a non-binding acquisition proposal.</a>
The deal has been unanimously approved by both Summit and Quikrete&#8217;s Boards of Directors.
The transaction will combine Summit&#8217;s aggregates, cement, and ready-mix concrete businesses with Quikrete&#8217;s concrete and cement-based products, creating a vertically integrated North American construction materials provider with strong customer relationships and iconic products.
The transaction is expected to close in the first half of 2025, pending Summit shareholder approval, regulatory clearances, and other customary closing conditions.
Once completed, Summit will become a privately held subsidiary of Quikrete, and its common stock will no longer be traded on the NYSE.
Anne Noonan, Summit Materials President and Chief Executive Officer, said, &#8220;This combination, and the value it creates, is a testament to our stellar strategic and financial performance, agile operational and commercial execution, and to the strength and talent of our entire team who have delivered a 34.6% annualized return since we began to develop our Elevate strategy on&nbsp;September 1, 2020.&#8221;
Will Magill, Chief Executive Officer of Quikrete, stated, &#8220;This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence. Summit is a recognized leader with a highly complementary portfolio of trusted aggregate, cement and ready-mix solutions.&#8221;
The company&#8217;s stock has gained over 12% in the past month. Investors can gain exposure to the stock via&nbsp;Professionally Managed Portfolios Congress SMid Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSMD#NYSE">CSMD</a>) and Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYZ#NASDAQ">PYZ</a>).
Price Action: SUM shares are trading lower by 1.72% at $50.77 at the last check Monday.
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Photo by haneen-krimly for Unsplash.

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Summit Materials Scooped Up: Quikrete Strikes $11.5 Billion Deal To Cement Industry Presence

Summit Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>), ("Summit," "Summit Materials," "Summit Inc." or the "Company") a leading producer of aggregates and cement, today announced it has entered into a definitive agreement to be acquired by&nbsp;Quikrete Holdings, Inc. ("Quikrete") for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. The transaction price represents an approximately 36% premium to Summit's unaffected 90-day volume weighted average price (VWAP)1 and an approximately 29% premium to Summit's unaffected share price2. The combination has been unanimously approved by the Summit and Quikrete Boards of Directors.
&nbsp;
The transaction combines Summit's leading aggregates, cement and ready-mix concrete businesses with Quikrete's leading concrete and cement-based products business to create a vertically integrated, North American, construction materials solutions provider with strong customer relationships and iconic products.
"We are pleased to have reached this agreement which will deliver significant, immediate and certain cash value to our shareholders," said Howard Lance, Chairman of Summit's Board of Directors. "In reaching this decision, our Board carefully considered a range of alternatives and determined that this transaction is the best way to maximize value for our shareholders."
"This combination, and the value it creates, is a testament to our stellar strategic and financial performance, agile operational and commercial execution, and to the strength and talent of our entire team who have delivered a 34.6% annualized return since we began to develop our Elevate strategy on September 1, 2020," said Anne Noonan, Summit Materials President and Chief Executive Officer. "We believe this transaction will create new and exciting opportunities for our employees and customers. In Quikrete, we have found a strong partner that shares our commitment to safety and innovation, and we are excited to join forces with their team."
"We are thrilled to welcome Summit into the Quikrete family," said Will Magill, Chief Executive Officer of Quikrete. "This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence. Summit is a recognized leader with a highly complementary portfolio of trusted aggregate, cement and ready-mix solutions. We look forward to working closely with the talented team at Summit to achieve our shared vision for the future."
Approvals and Timing The transaction is expected to close in the first half of 2025, subject to Summit shareholder approval, regulatory approvals and other customary closing conditions. Upon completion of the transaction, Summit will become a privately held subsidiary of Quikrete and its common stock will no longer be traded on the NYSE.
Summit's largest shareholder, Cementos Argos, has entered into an agreement pursuant to which it has committed to vote all of its shares of Summit's common stock in favor of the transaction.
Quikrete has obtained commitment letters for the financing necessary to complete the transaction, which is not subject to a financing condition.
For further information regarding the terms and conditions contained in the definitive transaction agreement, please see Summit's current report on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission in connection with the transaction.

Summit Materials to Be Acquired by Quikrete in $11.5B Deal

Summit Materials Confirms Receipt Of Non-Binding Acquisition Proposal And Initial Discussions With Interested Party, Names Morgan Stanley And Evercore As Advisors

WIIM

Summit Materials shares are trading higher following a repot suggesting Quikrete is in talks to acquire the company.

<a href="https://www.wsj.com/business/deals/building-materials-provider-quikrete-in-advanced-talks-to-buy-rival-b926c088?mod=latest_headlines">https://www.wsj.com/business/deals/building-materials-provider-quikrete-in-advanced-talks-to-buy-rival-b926c088?mod=latest_headlines</a>
&nbsp;
Building-materials provider Quikrete is in advanced talks to acquire rival <a href="https://www.wsj.com/market-data/quotes/SUM">Summit Materials</a>, according to people familiar with the matter.&nbsp;
A deal between closely held Quikrete and Summit could be announced early next week, said the people, assuming the talks don't fall apart.&nbsp;

'Building-Materials Provider Quikrete In Advanced Talks To Buy Rival; Deal For Summit Materials Could Come Together Early Next Week' - WSJ

DA Davidson analyst Brent Thielman maintains Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) with a Neutral and raises the price target from $41 to $47.

DA Davidson Maintains Neutral on Summit Materials, Raises Price Target to $47

In the preceding three months, 13 analysts have released ratings for Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>), presenting a wide array of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $49.46, with a high estimate of $60.00 and a low estimate of $41.00. This upward trend is apparent, with the current average reflecting a 3.04% increase from the previous average price target of $48.00.
<img src="https://www.benzinga.com/files/images/story/2024/1730487653_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Summit Materials. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Garik Shmois</td>
<td>Loop Capital</td>
<td>Raises</td>
<td>Buy</td>
<td>$54.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Mike Dahl</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$54.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Keith Hughes</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$60.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$52.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$41.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Philip Ng</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$56.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Anthony Pettinari</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$46.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Adrian Heurta</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$43.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Angel Castillo</td>
<td>Morgan Stanley</td>
<td>Announces</td>
<td>Overweight</td>
<td>$51.00</td>
<td>-</td>
</tr>
<tr>
<td>Anthony Pettinari</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$47.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Mike Dahl</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$45.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Keith Hughes</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$47.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Trey Grooms</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$47.00</td>
<td>$47.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Summit Materials. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Summit Materials compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Summit Materials's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SUM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Summit Materials analyst ratings.</a>
<h2>Unveiling the Story Behind Summit Materials</h2>
Summit Materials Inc is engaged in the production and sale of aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, two cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. It is also engaged in paving and related services. The Company's three operating and reporting segments are the West, East and Cement segments. It operates in 21 U.S. states and in British Columbia, Canada and has assets in 21 U.S. states and in British Columbia, Canada through its platform.
<h3>Summit Materials: Delving into Financials</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Summit Materials showcased positive performance, achieving a revenue growth rate of 4.73% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Materials sector.
Net Margin: Summit Materials's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 8.98%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Summit Materials's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 2.4%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Summit Materials's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 1.26%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Summit Materials's debt-to-equity ratio surpasses industry norms, standing at 0.65. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 13 Ratings For Summit Materials

Loop Capital analyst Garik Shmois maintains Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) with a Buy and raises the price target from $49 to $54.

Loop Capital Maintains Buy on Summit Materials, Raises Price Target to $54

RBC Capital analyst Mike Dahl maintains Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) with a Outperform and raises the price target from $53 to $54.

RBC Capital Maintains Outperform on Summit Materials, Raises Price Target to $54

Truist Securities analyst Keith Hughes maintains Summit Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) with a Buy and raises the price target from $47 to $60.

Truist Securities Maintains Buy on Summit Materials, Raises Price Target to $60

Summit Materials's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) short percent of float has fallen 8.31% since its last report. The company recently reported that it has 3.93 million shares sold short, which is 3.64% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.03 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Summit Materials Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730403926_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Summit Materials has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Summit Materials's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Summit Materials's peer group average for short interest as a percentage of float is 2.66%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

JPMorgan downgraded Summit Materials (SUM) to Neutral from Overweight with a price target of $52.50, up from $43, after the company entered into a ...

Summit Materials downgraded to Neutral from Overweight at JPMorgan

Privately held concrete-maker Quikrete is buying rival Summit Materials ($SUM) in an all-cash deal valued at $11.50 billion. Quikrete said it is bu...

Quikrete Acquires Rival Summit Materials (SUM) for $11.5 Billion

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: Macy's (M) delayed its Q3 earnings rel...

Macy's uncovers employee fraud, Summit to be acquired: Morning Buzz

Loop Capital downgraded Summit Materials (SUM) to Hold from Buy with a price target of $52.50, down from $54, after the company agreed to be purcha...

Summit Materials downgraded to Hold from Buy at Loop Capital

Longbow downgraded Summit Materials (SUM) to Neutral from Buy after the company entered into a definitive agreement to be acquired by Quikrete Hold...

Summit Materials downgraded to Neutral from Buy at Longbow

Citi downgraded Summit Materials (SUM) to Neutral from Buy with a price target of $52.50, down from $55. The company entered into an agreement to b...

Summit Materials downgraded to Neutral from Buy at Citi

Wolfe Research downgraded Summit Materials (SUM) to Peer Perform from Outperform with no price target after the company agreed to be purchased by Q...

Summit Materials downgraded to Peer Perform from Outperform at Wolfe Research

There's a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Martin Marietta Materials (MLM – Research Report) and...

Analysts Offer Insights on Materials Companies: Martin Marietta Materials (MLM) and Summit Materials (SUM)

Truist analyst Keith Hughes downgraded Summit Materials (SUM) to Hold from Buy with a price target of $52.50, down from $60, after the company rece...

Summit Materials downgraded to Hold from Buy at Truist

Invesco Main Street Small Cap Fund Q3 2024 Commentary

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Press Releases

Summit Materials Responds to Media Reports

Summit Materials Enters into Definitive Agreement to be Acquired by Quikrete for $52.50 Per Share in Cash

Shareholder Alert: Ademi LLP Investigates Whether Summit Materials, Inc. is Obtaining a Fair Price for its Public Shareholders

SUM Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Summit Materials, Inc. Is Fair to Shareholders

SUM Investors Have the Opportunity to Join Investigation of Summit Materials, Inc. with the Schall Law Firm

Legal

SUM Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of Summit Materials to Quikrete Holdings

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates BCOV, SUM, ENLC on Behalf of Shareholders

SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Summit Materials, Inc. - SUM

SUMMIT MATERIALS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Summit Materials, Inc. - SUM

BCOV

Cementos Pacasmayo S.A.A. American Depositary Shares (Each representing five Common Shares)

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