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Truist Financial has begun researching Summit Materials (NYSE:SUM).

Truist Financial has begun researching Summit Materials (NYSE:SUM).

According to The Fly, stock research analysts at Trust Financial have reportedly begun covering shares of Summit Materials (NYSE: SUM) in a research report released Friday to customers and investors. The report was about the company’s expectations for the upcoming quarter. The brokerage firm advised their customers to “buy” shares of the construction company from them to profit from the company.

In recent times, several well-known equity research analysts have penned studies on the company, shifting the focus of their attention to that particular entity. According to the findings of a research report made public by Stifel Nicolaus on Monday, December 19, the stock was given a “buy” rating, and the price objective for Summit Materials was lowered from $48.00 to $45.00. The report made a recommendation to “buy” the company. Goldman Sachs Group reduced the price objective for Summit Materials in a research note published on Friday, October 14. The new price objective is $24.50, down from the previous $28.50. In addition, the company has a “neutral” rating attached to its stock. On Wednesday, October 12, published the first version of a report discussing Summit Materials. This report was the very first of its kind. They recommended that shareholders “hold” their shares of the company. Morgan Stanley increased their price target on Summit Materials from $28.00 to $30.00 in a report published on Wednesday, December 14. The brokerage firm also rated the stock as “equal weight,” which indicates that it is neutrally weighted. JPMorgan Chase & Co. announced on Thursday, December 8, that in a report that was made public that day, they lowered their price objective on Summit Materials from $37.00 to $34.00. The final and most significant adjustment was made here. Seven research analysts have assigned a buy rating to the company, while only five have assigned a hold rating to the stock. According to Bloomberg, the current price objective for the company is set at $33.55, and the overall recommendation for the stock is a “Moderate Buy.” You should consider purchasing some of the company’s shares.

Friday marked the first day of trading on the NYSE SUM, and the opening price was $30.99. The stock price has had a simple moving average of $29.61 for the past 50 days and a price of $27.64 for the past 200 days. The company’s market capitalization is currently sitting at $3.67 billion, its price-to-earnings ratio stands at 13.08, and its beta stands at 1.36. There is a ratio of 0.76 debt to equity, 2.76 quick assets to current assets, and 3.39 current assets to total assets. A purchase of Summit Materials could cost anywhere from $21.99 up to $39.76 over a year.

On November 2, the most recent quarterly earnings report was made public for Summit Materials, which trades on the New York Stock Exchange (NYSE) under the symbol SUM. On November 2, the company’s quarterly earnings per share results were released, and they came in at $0.70. These results were published on the New York Stock Exchange (NYSE) under the symbol SUM. The company’s quarterly earnings per share came in at $0.70, $0.05 less than the $0.76 analysts’ anticipated earnings per share. The company’s sales for the quarter came in at $686.01 million, which is significantly higher than the consensus projection of $656.77 million. Summit Materials achieved a return on equity of 7.48%, while the net margin for the company was 11.65%. Professionals in the field of a research project that Summit Materials will post earnings of $1.18 per share in 2018.

Large investors have recently been active in the stock market, buying and selling equities. During the second quarter, Ellevest Inc. acquired an additional 81.7% stake in Summit Materials, bringing its total ownership to 100%. In the last three months, Ellevest Inc. has increased the number of shares it owns in the construction company from 546 to 1,214, which has increased in value by $28,000. During the second quarter of the current fiscal year, Assetmark Inc. increased the percentage of Summit Materials in which it is invested by 271.0%. Assetmark Inc. currently holds a total of 1,443 shares of the construction company’s stock, which are valued at $34,000. The company bought an additional 1,054 shares during the most recent quarter. Eagle Bay Advisors LLC spent almost forty thousand dollars to acquire a further investment in Summit Materials during the second quarter of the fiscal year. During the second quarter, Harbor Investment Advisory LLC was able to amass an additional 30.2% of the total number of shares issued by Summit Materials. After making an additional purchase of 580 shares during the most recent quarter, Harbor Investment Advisory LLC now has 2,503 shares of the construction company’s stock. Each share of this stock is currently valued at $58,000, making Harbor Investment Advisory LLC’s holdings worth $58,000. Last but certainly not least, the Great West Life Assurance Company of Canada shelled approximately 153,000 dollars during the third quarter of 2018 to Summit Materials to fill a newly created position.

Summit Materials, Inc. manufactures and distributes building supplies and related downstream items for the public infrastructure, residential, and nonresidential end markets through its subsidiaries. These end markets include residential construction, commercial construction, and residential construction. These end markets include both residential and commercial construction. Residential construction is also included. Its three business divisions comprise the Cement operational segment, the West operational segment, and the East operational segment. In addition to selling concrete products, aggregates, cement, ready-mix concrete, asphalt paving mixes, and plastic parts, the company also sells aggregates. Additionally, the company is in the business of manufacturing concrete goods.


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