Summit Materials, Inc., through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components. It also provides paving and related services primarily comprising asphalt paving services to the private and public infrastructure sectors. In addition, the company operates municipal waste, construction, and demolition debris landfills; and liquid asphalt terminal. Summit Materials, Inc. has operations in the United States; and British Columbia, Canada. The company was founded in 2009 and is headquartered in Denver, Colorado.
IPO Year: 2015
Exchange: NYSE
Website: summit-materials.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/16/2024 | $58.00 → $52.50 | Buy → Hold | Jefferies |
| 10/29/2024 | $45.00 → $52.00 | Equal Weight → Overweight | Barclays |
| 10/25/2024 | $45.00 → $53.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 8/26/2024 | $51.00 | Overweight | Morgan Stanley |
| 5/15/2024 | $49.00 | Peer Perform → Outperform | Wolfe Research |
| 2/23/2024 | $40.00 → $47.00 | Overweight | JP Morgan |
| 1/12/2024 | $43.00 → $38.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 10/24/2023 | $47.00 | Neutral → Buy | Seaport Research Partners |
| 9/8/2023 | Outperform → Peer Perform | Wolfe Research | |
| 7/24/2023 | $38.00 | Outperform → Neutral | Exane BNP Paribas |
4 - Summit Materials, Inc. (0001621563) (Issuer)
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4 - Summit Materials, Inc. (0001621563) (Issuer)
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Jefferies downgraded Summit Materials from Buy to Hold and set a new price target of $52.50 from $58.00 previously
Barclays upgraded Summit Materials from Equal Weight to Overweight and set a new price target of $52.00 from $45.00 previously
RBC Capital Mkts upgraded Summit Materials from Sector Perform to Outperform and set a new price target of $53.00 from $45.00 previously
Morgan Stanley initiated coverage of Summit Materials with a rating of Overweight and set a new price target of $51.00
Wolfe Research upgraded Summit Materials from Peer Perform to Outperform and set a new price target of $49.00
JP Morgan resumed coverage of Summit Materials with a rating of Overweight and set a new price target of $47.00 from $40.00 previously
RBC Capital Mkts downgraded Summit Materials from Outperform to Sector Perform and set a new price target of $38.00 from $43.00 previously
Seaport Research Partners upgraded Summit Materials from Neutral to Buy and set a new price target of $47.00
Wolfe Research downgraded Summit Materials from Outperform to Peer Perform
Exane BNP Paribas downgraded Summit Materials from Outperform to Neutral and set a new price target of $38.00
Carlisle Companies Incorporated (NYSE:CSL) today announced the appointment of Christopher B. Gaskill as Vice President & General Counsel for the Company. In conjunction with this appointment, Scott C. Selbach will transition to a new role as Executive Vice President, Government Relations for the Company. Mr. Selbach will also remain Secretary of the Company. Both Mr. Gaskill and Mr. Selbach will report to Chris Koch, Carlisle's Chair, President & Chief Executive Officer. Prior to joining Carlisle, Mr. Gaskill served as Executive Vice President, Chief Legal Officer, and Secretary at Summit Materials, Inc. (NYSE:SUM), where he was responsible for the company's global legal functions and ensu
DENVER, Feb. 10, 2025 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials" or the "Company"), a leading producer of aggregates and cement, today announced the closing of its previously announced definitive agreement to be acquired by Quikrete Holdings, Inc. ("Quikrete") for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. Summit's common stock has ceased trading on the NYSE and will no longer be listed on any public market. Additionally, the Company has become a privately held subsidiary of Quikre
DENVER, Feb. 5, 2025 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials" or the "Company"), a leading producer of aggregates and cement, today announced that the Company has obtained all requisite stockholder approvals in connection with the proposed acquisition by Quikrete Holdings, Inc. ("Quikrete"). Summit will disclose the final, certified voting results on a Form 8-K with the U.S. Securities and Exchange Commission ("SEC"). As previously announced, the proposed transaction is expected to close within the first quarter of 2025, subject to the sa
DENVER, Jan. 9, 2025 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials" or the "Company"), a leading producer of aggregates and cement, today announced the expiration of the waiting period under the Competition Act (Canada), as amended, in connection with Summit's previously announced definitive agreement to be acquired by Quikrete Holdings, Inc. ("Quikrete" or the "Purchaser") for $52.50 per share in cash (the "Merger"). The Merger is expected to close within the first quarter of 2025, subject to the satisfaction of remaining customary closing con
DENVER, Jan. 7, 2025 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials" or the "Company"), a leading producer of aggregates and cement, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with Summit's previously announced definitive agreement to be acquired by Quikrete Holdings, Inc. ("Quikrete" or the "Purchaser") for $52.50 per share in cash (the "Merger"). The Merger is expected to close within the first quarter of 2025, subject to the satisfaction of remaining custom
Compelling Premium Maximizes Value to Shareholders DENVER, Nov. 25, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM), ("Summit," "Summit Materials," "Summit Inc." or the "Company") a leading producer of aggregates and cement, today announced it has entered into a definitive agreement to be acquired by Quikrete Holdings, Inc. ("Quikrete") for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. The transaction price represents an approximately 36% premium to Summit's unaffected 90-day volume weighted average price (VWAP)1 and an approximately 29% premium to Summit's unaffected share price2. The combination has been unanimously approved b
DENVER, Nov. 21, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") today issued the following statement in response to media reports: "Summit previously disclosed receipt of a non-binding acquisition proposal and confirmed the Company has held initial discussions with the interested party. Summit does not plan to provide any updates with respect to this matter, except as required under applicable law." Morgan Stanley & Co. LLC and Evercore are acting as financial advisors to Summit, and Davis Polk & Wardwell L
Pricing Momentum Continues Sets ELEVATE Summit Record for Quality of Earnings Refining 2024 Guidance DENVER, Oct. 30, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a market-leading producer of aggregates and cement company, today announced results for the third quarter ended September 28, 2024. All comparisons are versus the quarter ended September 30, 2023 unless noted otherwise. Three months ended ($ in thousands, except per share amounts) September 28, 2024 September 30, 2023 % Chg vs. PY Net revenue $
DENVER, Oct. 24, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") today disclosed that it has received a non-binding acquisition proposal. The Company has held initial discussions with the interested party, and, in consultation with its advisors, Summit's Board of Directors will carefully evaluate the proposal to determine the course of action it believes is in the best interests of the Company and its shareholders. There can be no assurance that any definitive agreement will be reached. Summit does not plan
DENVER, Oct. 15, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))), a leading vertically integrated construction materials company, today announced that it will release third quarter 2024 financial results after the market closes on Wednesday, October 30, 2024. A conference call will be held on Thursday, October 31, 2024, at 11:00 a.m. eastern time (9:00 a.m. mountain time) to review Summit's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the third quarter results conference call and acc
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Carlisle Companies Incorporated (NYSE:CSL) today announced the appointment of Christopher B. Gaskill as Vice President & General Counsel for the Company. In conjunction with this appointment, Scott C. Selbach will transition to a new role as Executive Vice President, Government Relations for the Company. Mr. Selbach will also remain Secretary of the Company. Both Mr. Gaskill and Mr. Selbach will report to Chris Koch, Carlisle's Chair, President & Chief Executive Officer. Prior to joining Carlisle, Mr. Gaskill served as Executive Vice President, Chief Legal Officer, and Secretary at Summit Materials, Inc. (NYSE:SUM), where he was responsible for the company's global legal functions and ensu
Compelling Premium Maximizes Value to Shareholders DENVER, Nov. 25, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM), ("Summit," "Summit Materials," "Summit Inc." or the "Company") a leading producer of aggregates and cement, today announced it has entered into a definitive agreement to be acquired by Quikrete Holdings, Inc. ("Quikrete") for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. The transaction price represents an approximately 36% premium to Summit's unaffected 90-day volume weighted average price (VWAP)1 and an approximately 29% premium to Summit's unaffected share price2. The combination has been unanimously approved b
CHATTANOOGA, Tenn., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) ("Astec" or the "Company") today announced the appointment of Brian J. Harris as its Chief Financial Officer, effective immediately. In connection with the appointment of Mr. Harris, Heinrich Jonker will step down from his role as Interim Chief Financial Officer and will continue to serve as Vice President Finance – Infrastructure Solutions of the Company. Mr. Harris previously served as Executive Vice President and Chief Financial Officer of Summit Materials, Inc. (NYSE:SUM) ("Summit"), a leading producer of aggregates and cement, from October 2013 to February 2023. Prior to his role at Summit, Mr.
DENVER, Jan. 17, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))) is pleased to announce the appointment of Jorge Mario Velasquez, Irene Moshouris, and Juan Esteban Calle to the Summit Materials Board of Directors, effective January 12, 2024. Following these appointments, and together with the retirement of John Murphy, the Board consists of 11 directors, 10 of whom are independent. "We are delighted to welcome an experienced and accomplished set of new board members to the Summit Materials board," said Howard Lance, chairman of Summit
DENVER, Jan. 9, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))), a leading vertically integrated construction materials company, is pleased to announce the appointment of Marshall Moore as EVP, Chief Operations Officer effective January 4, 2024. Moore brings to this newly created role a 35-year track record of success in manufacturing and supply chain management, business process, operational excellence, product innovation, public affairs, strategy and business development. Prior to joining Summit, Moore served as Chief Technology Off
Summit Materials, Inc. (NYSE:SUM, "Summit" or the "Company"))), a leading vertically integrated construction materials company, is pleased to announce the appointment of Scott Anderson as its new Executive Vice President and Chief Financial Officer (CFO), effective March 1, 2023. Anderson brings to the role a wealth of experience in finance and operations, as well as a demonstrated commitment to the Summit strategy and the Company's mission, vision, and values. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230301005292/en/Scott Anderson, Chief Financial Officer (Photo: Business Wire) Scott has been an integral member of Summit's
Summit Materials, Inc. (NYSE:SUM, "Summit, " or the "Company"))), a leading vertically integrated construction materials company, has appointed Kekin Ghelani as the Company's first-ever Chief Strategy and Growth Officer. Kekin brings a wealth of experience in strategy, corporate development, marketing, branding, IT, and innovation. CEO of Summit Materials, Anne Noonan, commented, "Kekin's leadership, extensive M&A experience, and over 25 years leading growth and value creation in manufacturing industries will position him well to advance our Elevate Summit Strategy through this new role." Anne continued, "Kekin will help lead the charge as we pursue market leadership, further progress our
Summit Materials, Inc. (NYSE:SUM, "Summit, " or the "Company"))), a leading vertically integrated construction materials company, today announced two executive changes that are effective March 1, 2022. Tom Beck will become Executive Vice President, Summit Materials and David Loomes will assume the role of Continental Cement Company President and Senior Vice President of Summit Materials as part of the Company's planned and pro-active leadership succession. Beck is transitioning into the EVP role following 25 years of distinguished service at Continental Cement Company, LLC ("Continental" or "CCC"), including the last 9 as President. Loomes has 20+ years of industry experience and was most r
Summit Materials, Inc. (NYSE:SUM, "Summit" or the "Company"))), a leading vertically integrated construction materials company, today announced that its board of directors has appointed Tamla Oates-Forney as a new independent director and member of the board's Human Capital and Compensation Committee. With the appointment of Ms. Oates-Forney, Summit's board now comprises nine members. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210519005883/en/Tamla Oates-Forney, Director, Summit Materials, Inc. (Photo: Business Wire) Howard Lance, Chairman of Summit, stated, "I am delighted that Tamla has agreed to join the Summit board. She
Pricing Momentum Continues Sets ELEVATE Summit Record for Quality of Earnings Refining 2024 Guidance DENVER, Oct. 30, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a market-leading producer of aggregates and cement company, today announced results for the third quarter ended September 28, 2024. All comparisons are versus the quarter ended September 30, 2023 unless noted otherwise. Three months ended ($ in thousands, except per share amounts) September 28, 2024 September 30, 2023 % Chg vs. PY Net revenue $
DENVER, Oct. 15, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))), a leading vertically integrated construction materials company, today announced that it will release third quarter 2024 financial results after the market closes on Wednesday, October 30, 2024. A conference call will be held on Thursday, October 31, 2024, at 11:00 a.m. eastern time (9:00 a.m. mountain time) to review Summit's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the third quarter results conference call and acc
Argos USA Synergies On Track Sustained Aggregates Growth Reaffirming 2024 Guidance Range DENVER, Aug. 5, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a market-leading producer of aggregates and cement company, today announced results for the second quarter ended June 29, 2024. All comparisons are versus the quarter ended July 1, 2023 unless noted otherwise. Three months ended ($ in thousands, except per share amounts) June 29, 2024 July 1, 2023 % Chg vs. PY Net revenue $ 1,075,471 $ 680,373 58.1 % O
DENVER, July 19, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))), a leading vertically integrated construction materials company, today announced that it will release second quarter 2024 financial results after the market closes on Monday, August 5, 2024. A conference call will be held on Tuesday, August 6, 2024, at 12:00 p.m. eastern time (10:00 a.m. mountain time) to review Summit's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the second quarter results conference call and accompan
Margin Expansion Fueled by Pricing Momentum and Operational Improvements Raises 2024 Synergy Target to At Least $40 million Adjusting 2024 Guidance Higher DENVER, May 1, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), market-leading producer of aggregates and cement company, today announced results for the first quarter ended March 30, 2024. All comparisons are versus the quarter ended April 1, 2023 unless noted otherwise. Three months ended ($ in thousands, except per share amounts) March 30, 2024 April 1
DENVER, April 18, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))), a leading construction materials company, today announced that it will release first quarter 2024 financial results after the market closes on Wednesday, May 1, 2024. A conference call will be held on Thursday, May 2, 2024, at 12:00 p.m. eastern time (10:00 a.m. mountain time) to review Summit's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the first quarter results conference call and accompanying presentation materia
Reiterates and Provides Pathway to Elevate Summit Margin Target Upgrades Argos Synergy Target to at Least $130 Million Eliminates Up-C Structure DENVER, March 13, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a market-leading construction materials company, announces highlights that are being presented at its Investor Day today in New York City. "Since the introduction of our Elevate Summit Strategy in March 2021, it has been the cornerstone of our decision-making process, shaping our actions and providi
Establishes Annual Summit Records for Revenue and Profitability Record Annual Organic Pricing Growth for Aggregates and Cement DENVER, Feb. 14, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), market-leading producer of aggregates and cement company, today announced results for the fourth quarter and full year ended December 30, 2023. All comparisons are versus the quarter and full year ended December 31, 2022 unless noted otherwise. Three months ended Year ended ($ in thousands, except per share amounts) De
DENVER, Jan. 25, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))), a leading construction materials company, today announced that it will release fourth quarter and full year 2023 financial results after the market closes on Wednesday, February 14, 2024. A conference call will be held on Thursday, February 15, 2024 at 11:00 a.m. eastern time (9:00 a.m. mountain time) to review Summit's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the fourth quarter and full year 2023 results conferenc
DENVER, Oct. 12, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE:SUM, ", Summit", or the ", Company", ))), a leading vertically integrated construction materials company, today announced that it will release third quarter 2023 financial results after the market closes on Wednesday, November 1, 2023. A conference call will be held on Thursday, November 2, 2023, at 11:00 a.m. eastern time (9:00 a.m. mountain time) to review Summit's financial results, discuss recent events and conduct a question-and-answer session. A webcast of the third quarter results conference call and acc