Summit Materials Inc (NYSE: SUM) has recently experienced extremely important negative changes in investment behavior: negative upside/downside volume developed, its shorter term price trend turned down, and the stock fell on very heavy volume.
Small negative changes in fundamentals have recently occurred for Summit Materials Inc (NYSE: SUM): the consensus estimate for December, 2024 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of B. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
SUM is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Summit Materials has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Summit Materials has a neutral Appreciation Score of 54 but a good Power Rating of 72, resulting in the Positive Value Trend Rating.
Recent Price Action
On 5/2/24, Summit Materials Inc (NYSE: SUM) stock declined slightly by -0.3%, closing at $39.10. Moreover, trading volume in this decline was exceptionally high at 282% of normal. The stock is unchanged during the last week and has been strong relative to the market over the last nine months.
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