Summit Materials Inc. Class A (NYSE:SUM) traded today at a new 52-week high of $37.95. This new high was reached on below average trading volume as 220,000 shares traded hands, while the average 30-day volume is approximately 762,000 shares.
Summit Materials is a top-10 aggregates supplier and top-15 cement producer in the U.S. Founded as a roll-up strategy in 2009, the company has grown through a very active acquisition strategy. While cement and aggregates constituted about 35% of the firm's revenue in 2020, these higher-margin businesses constituted nearly 55% of gross profit. Summit's downstream businesses and services include asphalt, ready-mix concrete, and paving. While these constitute about 65% of revenue, their lower margins lead to gross profit contribution of roughly 45%.
Summit Materials Inc. Class A (NYSE:SUM) is currently priced 16.3% above its average consensus analyst price target of $31.42.
Summit Materials Inc. Class A share prices have moved between a 52-week high of $37.95 and a 52-week low of $16.20 and are now trading 132% above that low price at $37.55 per share.
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