In a report released yesterday, Courtney Yakavonis from Morgan Stanley maintained a Hold rating on Summit Materials (SUM), with a price target of $25.00. The company’s shares closed last Tuesday at $26.11, close to its 52-week high of $26.32.
According to TipRanks.com, Yakavonis is a 3-star analyst with an average return of 3.4% and a 42.0% success rate. Yakavonis covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies, Allison Transmission Holdings, and Timken Company.
Currently, the analyst consensus on Summit Materials is a Moderate Buy with an average price target of $23.21.
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Based on Summit Materials’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $710 million and net profit of $90.73 million. In comparison, last year the company earned revenue of $732 million and had a net profit of $55.76 million.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SUM in relation to earlier this year.
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Summit Materials, Inc. is a construction materials company. It manufactures construction materials and related downstream products. The company operates its business through the following segments: Cement, West and East. The Cement consists of its Hannibal, Missouri and Davenport, Iowa cement plants and distribution terminals along the Mississippi river from Minnesota to Louisiana. The West segment includes operations in Texas, Utah, Colorado, Idaho, Wyoming and Nevada and in British Columbia, Canada. The East segments serves markets extending across the Midwestern and Eastern United States, most notably in Kansas, Missouri, Virginia, Kentucky, North Carolina, South Carolina and Nebraska where the company supplies aggregates, ready mix concrete, asphalt paving mix and paving and related services. The company was founded by Thomas W. Hill on September 23, 2014 and is headquartered in Denver, CO.
