Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Summit Materials Inc shares valued at $78,198 were sold by Gaskill Christopher Burke on Dec 10 ’24. At $50.91 per share, Gaskill Christopher Burke sold 1,536 shares. The insider’s holdings dropped to 40,221 shares worth approximately $2.11 million following the completion of this transaction.
Also, Gaskill Christopher Burke purchased 1,536 shares, netting a total of over 78,201 in proceeds.
Before that, Ghelani Kekin had added 17,936 shares to its account. In a trade valued at $694,303, the Officer bought Summit Materials Inc shares for $38.71 each.
As published in a research note from Jefferies on December 16, 2024, Summit Materials Inc [SUM] has been rated down from a Buy to a Hold and the price target has been revised to $52.50 from $58. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late October. As of October 25, 2024, RBC Capital Mkts has increased its “Sector perform” rating to a “an Outperform” for SUM. Earlier on August 26, 2024, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for SUM stock.
Analyzing SUM Stock Performance
During the last five days, there has been a surge of approximately 0.13%. Over the course of the year, Summit Materials Inc shares have jumped approximately 3.74%. Shares of the company reached a 52-week high of $52.49 on 02/06/25 and a 52-week low of $50.65 on 01/02/25. A 50-day SMA is recorded $51.40, while a 200-day SMA reached $42.77. Nevertheless, trading volume fell to 2.44 million shares from 3.15 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 52.38, which, if violated, would cause prices to drop to 52.28. In the upper region, resistance lies at 52.54. The next price resistance is at 52.60. RSI (Relative Strength Index) is 75.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 0.00%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
