Summit Materials Stock Technical Analysis

SUM Stock  USD 44.57  0.54  1.23%   
As of the 28th of March, Summit Materials has the Risk Adjusted Performance of 0.0693, coefficient of variation of 894.13, and Semi Deviation of 1.79. In relation to fundamental indicators, the technical analysis model makes it possible for you to check existing technical drivers of Summit Materials, as well as the relationship between them. In other words, you can use this information to find out if the company will indeed mirror its model of past prices and volume data, or the prices will eventually revert. We are able to break down and analyze data for nineteen technical drivers for Summit Materials, which can be compared to its competition. Please validate Summit Materials standard deviation, value at risk, as well as the relationship between the Value At Risk and kurtosis to decide if Summit Materials is priced more or less accurately, providing market reflects its prevalent price of 44.57 per share. Given that Summit Materials has jensen alpha of (0.08), we advise you to double-check Summit Materials's current market performance to make sure the company can sustain itself at a future point.

Summit Materials Momentum Analysis

Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Summit, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to Summit
  
Summit Materials' Momentum analyses are specifically helpful, as they help investors time the market using mark points where the market can reverse. The reversal spots are usually identified through divergence between price movement and momentum.

Summit Materials Analyst Consensus

Target PriceAdvice# of Analysts
42.79Strong Buy15Odds
Summit Materials current and past analyst recommendations published by a number of research institutions as well as average analyst consensus.
Most Summit analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to helps potential investors understand Summit stock's fair price compared to its market value. Analysts arrive at stock ratings after researching public financial statements of Summit Materials, talking to its executives and customers, or listening to Summit conference calls.
Summit Analyst Advice Details
Summit Materials technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Summit Materials technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Summit Materials trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...

Summit Materials Technical Analysis

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Incorrect Input. Please change your parameters or increase the time horizon required for running this function. The output start index for this execution was zero with a total number of output elements of zero. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of Summit Materials volatility. High ATR values indicate high volatility, and low values indicate low volatility.

Summit Materials Trend Analysis

Use this graph to draw trend lines for Summit Materials. You can use it to identify possible trend reversals for Summit Materials as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Summit Materials price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.

Summit Materials Best Fit Change Line

The following chart estimates an ordinary least squares regression model for Summit Materials applied against its price change over selected period. The best fit line has a slop of   0.15  , which may imply that Summit Materials will maintain its good market sentiment and make money for investors. It has 122 observation points and a regression sum of squares at 874.15, which is the sum of squared deviations for the predicted Summit Materials price change compared to its average price change.

About Summit Materials Technical Analysis

The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Summit Materials on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Summit Materials based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on Summit Materials price pattern first instead of the macroeconomic environment surrounding Summit Materials. By analyzing Summit Materials's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Summit Materials's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Summit Materials specific price patterns or momentum indicators. Please read more on our technical analysis page.
 2022 2023 2024 (projected)
Dividend Yield1.98E-42.28E-42.16E-4
Price To Sales Ratio1.421.280.82

Summit Materials March 28, 2024 Technical Indicators

Most technical analysis of Summit help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Summit from various momentum indicators to cycle indicators. When you analyze Summit charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.

Summit Materials March 28, 2024 Daily Trend Indicators

Traders often use several different daily volumes and price technical indicators to supplement a more traditional technical analysis when analyzing securities such as Summit stock. With literally thousands of different options, investors must choose the best indicators for them and familiarize themselves with how they work. We suggest combining traditional momentum indicators with more near-term forms of technical analysis such as Accumulation Distribution or Daily Balance Of Power. With their quantitative nature, daily value technical indicators can also be incorporated into your automated trading systems.
When determining whether Summit Materials is a strong investment it is important to analyze Summit Materials' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Summit Materials' future performance. For an informed investment choice regarding Summit Stock, refer to the following important reports:
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Summit Materials. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in employment.
To learn how to invest in Summit Stock, please use our How to Invest in Summit Materials guide.
You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.

Complementary Tools for Summit Stock analysis

When running Summit Materials' price analysis, check to measure Summit Materials' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Summit Materials is operating at the current time. Most of Summit Materials' value examination focuses on studying past and present price action to predict the probability of Summit Materials' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Summit Materials' price. Additionally, you may evaluate how the addition of Summit Materials to your portfolios can decrease your overall portfolio volatility.
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Is Summit Materials' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Summit Materials. If investors know Summit will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Summit Materials listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.90)
Earnings Share
2.39
Revenue Per Share
22.004
Quarterly Revenue Growth
0.195
Return On Assets
0.0438
The market value of Summit Materials is measured differently than its book value, which is the value of Summit that is recorded on the company's balance sheet. Investors also form their own opinion of Summit Materials' value that differs from its market value or its book value, called intrinsic value, which is Summit Materials' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Summit Materials' market value can be influenced by many factors that don't directly affect Summit Materials' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Summit Materials' value and its price as these two are different measures arrived at by different means. Investors typically determine if Summit Materials is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Summit Materials' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.