Investors are poised to add Summit Materials Inc (SUM) Stock to their long term portfolios

At the time of writing, Summit Materials Inc [SUM] stock is trading at $42.13, up 3.44%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The SUM shares have gain 4.28% over the last week, with a monthly amount glided 6.66%, and seem to be holding up well over a long-time horizon.

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From an analyst’s perspective:

Summit Materials Inc [NYSE: SUM] stock has seen the most recent analyst activity on May 15, 2024, when Wolfe Research upgraded its rating to a Outperform but kept the price target unchanged to $49 for it. On January 12, 2024, downgrade downgraded it’s rating to Sector Perform and revised its price target to $38 on the stock. Seaport Research Partners upgraded its rating to a Buy but stick to its price target of $47 on October 24, 2023. Wolfe Research downgraded its rating to a Peer Perform. Exane BNP Paribas downgraded its rating to Neutral for this stock on July 24, 2023, but kept the price target unchanged to $38. In a note dated July 06, 2023, JP Morgan downgraded an Underweight rating on this stock and boosted its target price from $32 to $37.

For the past year, the stock price of Summit Materials Inc fluctuated between $29.98 and $44.89. Currently, Wall Street analysts expect the stock to reach $44.57 within the next 12 months. Summit Materials Inc [NYSE: SUM] shares were valued at $42.13 at the most recent close of the market. An investor can expect a potential return of 5.79% based on the average SUM price forecast.

Analyzing the SUM fundamentals

According to Summit Materials Inc [NYSE:SUM], the company’s sales were 2.99B for trailing twelve months, which represents an 84.90% jump. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.12%, Pretax Profit Margin comes in at 0.12%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.09 and Total Capital is 0.05. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.66.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 41.51 points at the first support level, and at 40.88 for the second support level. However, for the 1st resistance point, the stock is sitting at 42.56, and for the 2nd resistance point, it is at 42.98.

Ratios To Look Out For

It is important to note that Summit Materials Inc [NYSE:SUM] has a current ratio of 2.58. In addition, the Quick Ratio stands at 1.93 and the Cash Ratio stands at 0.95. Considering the valuation of this stock, the price to sales ratio is 2.47, the price to book ratio is 1.75 and price to earnings (TTM) ratio is 18.75.