Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Summit Materials Inc shares valued at $2,033,951 were sold by Kilgore Jason on May 13 ’24. At $40.21 per share, Kilgore Jason sold 50,589 shares. The insider’s holdings dropped to 60,630 shares worth approximately $2.17 million following the completion of this transaction.
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As published in a research note from Wolfe Research on May 15, 2024, Summit Materials Inc [SUM] has been rated up from a Peer perform to an Outperform and the price target has been revised to $49. As of January 12, 2024, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for SUM. Earlier on October 24, 2023, Seaport Research Partners upgraded its rating. Their new recommendation was “a Buy” for SUM stock which previously was a “a Neutral”.
Analyzing SUM Stock Performance
During the last five days, there has been a drop of approximately -3.27%. Over the course of the year, Summit Materials Inc shares have dropped approximately -6.92%. Shares of the company reached a 52-week high of $44.89 on 04/01/24 and a 52-week low of $34.38 on 01/17/24. A 50-day SMA is recorded $38.73, while a 200-day SMA reached $37.35. Nevertheless, trading volume fell to 1.07 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Summit Materials Inc (SUM)
According to the 24-hour chart, there is a support level at 35.26, which, if violated, would cause prices to drop to 34.72. In the upper region, resistance lies at 36.13. The next price resistance is at 36.46. RSI (Relative Strength Index) is 35.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.19, which suggests the price will decrease in the coming days. Percent R is at 69.23%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
