Analyst Scoreboard: 11 Ratings For Summit Materials
Portfolio Pulse from Benzinga Insights
Summit Materials (NYSE:SUM) received 11 analyst ratings in the last three months, showing a diverse range of perspectives from bullish to bearish. The average 12-month price target for SUM is $43.73, marking a 7.02% increase from the previous target of $40.86. Analysts from firms like RBC Capital, Barclays, and Goldman Sachs have adjusted their ratings and price targets, reflecting evolving market conditions and company performance. Summit Materials, engaged in the production and sale of construction materials, has shown a positive revenue trend with a growth rate of 19.53% as of December 31, 2023, but faces challenges in profitability, debt management, and returns on equity and assets.
March 14, 2024 | 6:01 pm
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POSITIVE IMPACT
Summit Materials received mixed analyst ratings, with an updated average 12-month price target of $43.73. The company has shown significant revenue growth but faces challenges in profitability and debt management.
The mixed analyst ratings with a positive adjustment in the average price target suggest a cautiously optimistic outlook for Summit Materials. The significant revenue growth indicates strong business performance, which could positively impact the stock price. However, concerns about profitability and debt management could temper investor enthusiasm, making the overall short-term impact likely positive but with caution due to underlying challenges.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100