SUM Stock Summary and Trading Ideas (Summit Materials Class A | NYSE:SUM)

Summit Materials Inc is engaged in the production and sale of aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, two cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. It is also engaged in paving and related services. The Company's three operating and reporting segments are the West, East and Cement segments. It operates in 21 U.S. states and in British Columbia, Canada and has assets in 21 U.S. states and in British Columbia, Canada through its platform.

Summit Materials Class A trades on the NYSE stock market under the symbol SUM.

As of April 18, 2024, SUM stock price declined to $38.47 with 892,561 million shares trading.

SUM has a beta of 1.36, meaning it tends to be more sensitive to market movements. SUM has a correlation of 0.19 to the broad based SPY ETF.

SUM has a market cap of $6.70 billion. This is considered a Mid Cap stock.

Last quarter Summit Materials Class A reported $613 million in Revenue and $.31 earnings per share. This beat revenue expectation by $24 million and exceeded earnings estimates by $.05.

In the last 3 years, SUM stock traded as high as $44.89 and as low as $21.99.

The top ETF exchange traded funds that SUM belongs to (by Net Assets): VTI, VB, IWM, VBR, VXF.

SUM has outperformed the market in the last year with a return of +42.5%, while the SPY ETF gained +22.3%. In the last 3 month period, SUM beat the market returning +9.6%, while SPY returned +6.1%. However, in the most recent 2 weeks SUM has underperformed the stock market by returning -10.0%, while SPY returned -3.8%.

SUM support price is $38.24 and resistance is $39.82 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SUM stock will trade within this expected range on the day.