Rather & Kittrell Inc. Invests $231,000 in Summit Materials, Inc. (NYSE:SUM)

Rather & Kittrell Inc. bought a new stake in Summit Materials, Inc. (NYSE:SUM) during the 4th quarter, Holdings Channel.com reports. The firm bought 6,016 shares of the construction company’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of Summit Materials by 110.3% in the 4th quarter. Signaturefd LLC now owns 654 shares of the construction company’s stock worth $25,000 after purchasing an additional 343 shares during the period. BluePath Capital Management LLC acquired a new position in Summit Materials in the third quarter valued at $32,000. DekaBank Deutsche Girozentrale bought a new stake in Summit Materials during the third quarter valued at $54,000. Headlands Technologies LLC acquired a new stake in Summit Materials during the 3rd quarter worth about $77,000. Finally, Assetmark Inc. raised its position in shares of Summit Materials by 20.9% in the 3rd quarter. Assetmark Inc. now owns 5,021 shares of the construction company’s stock worth $156,000 after acquiring an additional 868 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on Summit Materials from $39.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday, March 14th. Stephens reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Summit Materials in a research report on Tuesday, February 13th. JPMorgan Chase & Co. began coverage on shares of Summit Materials in a research report on Friday, February 23rd. They set an “overweight” rating and a $47.00 target price on the stock. Barclays increased their target price on shares of Summit Materials from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, Citigroup lifted their price target on shares of Summit Materials from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Summit Materials currently has an average rating of “Moderate Buy” and an average price target of $46.09.

Summit Materials Stock Up 1.6 %

Shares of NYSE SUM traded up $0.63 during mid-day trading on Friday, reaching $40.00. 534,449 shares of the company’s stock traded hands, compared to its average volume of 959,861. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.36 and a quick ratio of 4.62. The business has a 50-day simple moving average of $41.86 and a 200 day simple moving average of $37.87. The stock has a market cap of $6.97 billion, a P/E ratio of 16.81 and a beta of 1.32. Summit Materials, Inc. has a 1-year low of $26.43 and a 1-year high of $44.89.

Summit Materials (NYSE:SUM) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The business had revenue of $613.13 million for the quarter, compared to analysts’ expectations of $560.90 million. Summit Materials had a net margin of 10.91% and a return on equity of 8.73%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. On average, analysts expect that Summit Materials, Inc. will post 2.28 EPS for the current fiscal year.

About Summit Materials

Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.