Summit Materials Inc’s recent filing unveils that its insider Kilgore Jason unloaded Company’s shares for reported $2.03 million on May 13 ’24. In the deal valued at $40.21 per share,50,589 shares were sold. As a result of this transaction, Kilgore Jason now holds 60,630 shares worth roughly $2.29 million.
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Wolfe Research upgraded its Summit Materials Inc [SUM] rating to an Outperform from a a Peer perform in a research note published recently. RBC Capital Mkts also remained covering SUM and has decreased its forecast on January 12, 2024 with a “Sector perform” recommendation from previously “an Outperform” rating. Seaport Research Partners revised its rating on October 24, 2023. It rated SUM as “a Buy” which previously was an “a Neutral”.
Price Performance Review of SUM
On Tuesday, Summit Materials Inc [NYSE:SUM] saw its stock fall -1.80% to $37.74. Over the last five days, the stock has lost -2.73%. Summit Materials Inc shares have fallen nearly -1.87% since the year began. Nevertheless, the stocks have risen 12.35% over the past one year. While a 52-week high of $44.89 was reached on 04/01/24, a 52-week low of $29.98 was recorded on 01/17/24. SMA at 50 days reached $40.43, while 200 days put it at $37.29. A total of 1.27 million shares were traded, compared to the trading of 0.87 million shares in the previous session.
Levels Of Support And Resistance For SUM Stock
The 24-hour chart illustrates a support level at 37.24, which if violated will result in even more drops to 36.74. On the upside, there is a resistance level at 38.31. A further resistance level may holdings at 38.88. The Relative Strength Index (RSI) on the 14-day chart is 36.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.54%. Stochastics %K at 17.87% indicates the stock is a buying.
