Recent extremely meaningful negative changes in investment behavior have impacted Summit Materials Inc (NYSE: SUM): the stock’s recent price decline challenged its longer term uptrend, and negative upside/downside volume developed.
Summit Materials Inc (NYSE: SUM) has recently experienced important negative changes in fundamentals: the consensus estimate for December, 2024 decreased significantly, and the consensus estimate for December, 2025 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, SUM is expected to continue to be a Value Builder.
Summit Materials has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Summit Materials has a neutral Appreciation Score of 57 and a slightly positive Power Rating of 60, resulting in the High Neutral Value Trend Rating.
Recent Price Action
On 6/11/24, Summit Materials Inc (NYSE: SUM) stock declined modestly by -1.8%, closing at $36.83. Moreover, this decline was accompanied by above average trading volume at 120% of normal. The stock has declined -4.2% during the last week but has been strong relative to the market over the last nine months.
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