Summit Materials Inc (NYSE:SUM).
Appaloosa Lp lowered its position in Summit Materials Inc stock by 11.4% in the quarter ending 09/30/2017. Its stake was worth $62,894,000 a decrease of 1.7% as of the end of the quarter.
These firms have modified their investment in SUM. Oppenheimerfunds, Inc. trimmed its holdings by shedding 252,525 shares a decrease of 2.0% as of 09/30/2017. Oppenheimerfunds, Inc. claims 1,699,884 shares with a value of $54,447,000. The total value of its holdings increased 8.7%. Appaloosa Lp cut its stake by selling 252,525 shares a decrease of 11.4% from 06/30/2017 to 09/30/2017. Appaloosa Lp now holds 1,963,585 shares worth $62,894,000. The value of the position overall is down by 1.7%.
As of the end of the quarter Appaloosa Lp had disposed of 35,341 shares trimming its stake by 11.4%. The value of the investment in (SUM) decreased from $63,979,000 to $62,894,000 a change of 1.7% quarter to quarter. Baird Financial Group, Inc. expanded its ownership by buying 151 shares an increase of 1.9%. Baird Financial Group, Inc. controls 7,915 shares valued at $254,000. The value of the position overall is up by 13.4%.
As of quarter end Raymond James & Associates had bought a total of 72,240 shares growing its holdings by 49.9%. The value in dollars went from $4,180,000 to $6,951,000 a change of $2,771,000 for the reporting period.
November 8 investment analysts at Canaccord Genuity made no change to the stock rating of “Buy” targeting a price of $12.50. On November 2, 2017 Royal Bank Of Canada reiterated a “Buy” rating on the stock.
Equity analyst Bank of America Corporation raised the price target of the stock on October 31 changing the forecast from $33.00 to $34.00 with a rating of “Neutral”. Equity analyst SunTrust Banks released a research note on SUM stating a rating of “Buy” and price target of $38.00.
On August 9 Royal Bank Of Canada held the stock rating at “Outperform” projecting a price of $35.00. Royal Bank Of Canada raised the price target on August 3 changing the price objective from $33.00 to $35.00 and stated a “Outperform” rating.
The company is up since yesterday’s close of 10.58. Summit Materials Inc’s P/E ratio is 89.23 and market capitalization is 593.52M. In the last earnings report the EPS was $0.12 with 55.74M shares currently outstanding.
Short traders are feeling a little more bullish on the company recently if you consider the fall in short interest. The stock had a fall in short interest of -6.77% as of October 13, 2017 from the last reporting period. Short interest fell 609,471 over that period. With short interest at 8,392,953 and short average daily volume at 988,424, the short-interest ratio is 8.0 and the short interest percentage is 0.15% as of October 13.