Summit Materials Inc. (NYSE: SUM) growth is a big Buy opportunity

Summit Materials Inc. (NYSE: SUM) is 1.69% higher on its value in year-to-date trading and has touched a low of $7.51 and a high of $25.18 in the current 52-week trading range. The SUM stock was last observed hovering at around $20.08 in the last trading session, with the day’s gains setting it 0.34% off its average median price target of $23.00 for the next 12 months. It is also 21.46% off the consensus price target high of $26.00 offered by 19 analysts, but current levels are -31.74% lower than the price target low of $15.50 for the same period.

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Currently trading at $20.42, the stock is 3.53% and 7.84% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.98 million and changing 1.69% at the moment leaves the stock 24.77% off its SMA200. SUM registered -12.47% loss for a year compared to 6-month gain of 21.12%. The firm has a 50-day simple moving average (SMA 50) of $19.48 and a 200-day simple moving average (SMA200) of $17.50.

The stock witnessed a 3.71% loss in the last 1 month and extending the period to 3 months gives it a 18.24%, and is 6.24% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.53% over the week and 4.07% over the month.

Summit Materials Inc. (SUM) has around 6000 employees, a market worth around $2.28B and $2.26B in sales. Current P/E ratio is 16.85 and Fwd P/E is 24.25. Profit margin for the company is 6.10%. Distance from 52-week low is 171.90% and -18.90% from its 52-week high. The company has generated returns on investments over the last 12 months (5.50%).

Summit Materials Inc. (SUM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Summit Materials Inc. (SUM) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.10, where 5 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Summit Materials Inc. is expected to release its quarterly report on 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.17 with sales reaching $508.98M over the same period.The EPS is expected to grow by 14.30% this year, but quarterly earnings will post 3.00% year-over-year. Quarterly sales are estimated to grow 0.50% in year-over-year returns.

Summit Materials Inc. (SUM) Top Institutional Holders

288 institutions hold shares in Summit Materials Inc. (SUM), with 661.94k shares held by insiders accounting for 0.58% while institutional investors hold 105.84% of the company’s shares. The shares outstanding are 114.12M, and float is at 113.47M with Short Float at 6.83%. Institutions hold 105.22% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 10.08 million shares valued at $166.73 million. The investor’s holdings represent 8.83% of the SUM Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 9.86 million shares valued at $163.12 million to account for 8.64% of the shares outstanding. The other top investors are Blackrock Inc. which holds 9.08 million shares representing 7.95% and valued at over $150.15 million, while Dimensional Fund Advisors LP holds 5.41% of the shares totaling 6.18 million with a market value of $102.18 million.

Summit Materials Inc. (SUM) Insider Activity

The most recent transaction is an insider purchase by CANTIE JOSEPH S, the company’s Director. SEC filings show that CANTIE JOSEPH S bought 5,100 shares of the company’s common stock on Dec 18 at a price of $19.66 per share for a total of $0.1 million. Following the purchase, the insider now owns 5100.0 shares.

Summit Materials Inc. disclosed in a document filed with the SEC on Nov 02 that Benedict Anne Lee sold a total of 8,250 shares of the company’s common stock. The trade occurred on Nov 02 and was made at $18.48 per share for $0.15 million. Following the transaction, the insider now directly holds 11864.0 shares of the SUM stock.

Still, SEC filings show that on Sep 04, Noonan Anne P (President & CEO) acquired 66,000 shares at an average price of $15.24 for $1.01 million. The insider now directly holds 66,000 shares of Summit Materials Inc. (SUM).

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Summit Materials Inc. (SUM): Who are the competitors?

The company’s main competitors (and peers) include Caterpillar Inc. (CAT) that is trading 22.71% up over the past 12 months. The Manitowoc Company Inc. (MTW) is -25.90% down on the 1-year trading charts. Short interest in the company’s stock has fallen -14.06% from the last report on Nov 12, 2020 to stand at a total of 8.84 million short shares sold with a short interest ratio of 7.44.

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