Summit Materials Inc (NYSE: SUM) is 13.42% higher on its value in year-to-date trading and has touched a low of $25.43 and a high of $44.42 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SUM stock was last observed hovering at around $42.62 in the last trading session, with the day’s gains setting it 1.0%.
Currently trading at $43.62, the stock is 2.78% and 11.05% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.94 million and changing 2.35% at the moment leaves the stock 20.52% off its SMA200. SUM registered 58.79% gain for a year compared to 6-month gain of 35.42%. The firm has a 50-day simple moving average (SMA 50) of $3.65 and a 200-day simple moving average (SMA200) of $13.00.
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The stock witnessed a 5.64% loss in the last 1 month and extending the period to 3 months gives it a 12.77%, and is 4.76% 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 2.42% over the week and 2.07% over the month.
Summit Materials Inc (SUM) has around 5300 employees, a market worth around $7.60B and $2.62B in sales. Current P/E ratio is 18.27 and Fwd P/E is 17.36. Profit margin for the company is 10.91%. Distance from 52-week low is 71.53% and -1.80% from its 52-week high. The company has generated returns on investments over the last 12 months (6.16%).
Summit Materials Inc quarterly earnings per share for the current quarter are estimated at -$0.24 with sales reaching $842.4M over the same period.The EPS is expected to grow by 33.39% this year, but quarterly earnings will post 70.50% year-over-year. Quarterly sales are estimated to grow 100.10% in year-over-year returns.
404 institutions hold shares in Summit Materials Inc (SUM), with institutional investors hold 103.02% of the company’s shares. The shares outstanding are 119.53M, and float is at 118.51M with Short Float at 3.88%. Institutions hold 69.93% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 11.98 million shares valued at $522.5 million. The investor’s holdings represent 6.87% of the SUM Shares outstanding. As of Dec 30, 2023, the second largest holder is Blackrock Inc. with 11.37 million shares valued at $495.75 million to account for 6.52% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 8.81 million shares representing 5.06% and valued at over $384.48 million, while Massachusetts Financial Services Co. holds 3.82% of the shares totaling 6.65 million with a market value of $290.09 million.
