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SUM

Summit Materials

$18.89

0.055 (0.29%)

12:45
07/09/19
07/09
12:45
07/09/19
12:45

Summit Materials call volume above normal and directionally bullish

Bullish option flow detected in Summit Materials with 8,684 calls trading, 6x expected, and implied vol increasing over 7 points to 62.26%. Aug-19 20 calls and Jan-20 20 calls are the most active options, with total volume in those strikes near 8,100 contracts. The Put/Call Ratio is 0.05. Earnings are expected on July 31st.

  • 04

    Sep

  • 13

    Nov

SUM Summit Materials
$18.89

0.055 (0.29%)

06/14/19
LEHM
06/14/19
NO CHANGE
Target $18
LEHM
Equal Weight
Summit Materials takeover interest 'likely genuine,' says Barclays
Barclays analyst Adam Seiden says he was "skeptical at first" after Reuters reported that Grupo Argos has an interest in Summit Materials. However, the analyst now sees the potential logic and believes the interest is "likely genuine." Cementos Argos is a small player in the U.S. market, at a low-single digit percent share, but it generates ~50% of its EBITDA in the U.S. and its other regions are either just starting to recover, or not at all, Seiden tells investors in a research note. He keeps an Equal Weight rating on Summit Materials with an $18 price target.
06/14/19
STFL
06/14/19
NO CHANGE
Target $23
STFL
Buy
Summit merger report 'feels like a rumor,' but upside remains, says Stifel
Stifel analyst Stanley Elliott said he sees shares of Summit Materials as meaningfully undervalued and still sees upside in the stock after yesterday's 14% move higher, which was prompted by reports that Cementos Argos proposed a merger with the company. With that said, Elliott told investors in a research note that he is not sure the sources of those reports are credible. "This feels like a rumor to get investors focused on Summit's portfolio and the value that is not currently reflected in equity markets," or a way to shift the discussion from challenges the company is currently facing, Elliott stated. His sum-of-the-parts analysis to help assess a potential takeout value points to a value of $23-$24 per share, added the analyst, who keeps a Buy rating and $23 target on Summit Materials shares.
06/14/19
DBAB
06/14/19
NO CHANGE
DBAB
Buy
Argos, Summit Materials operating synergies may be limited, says Deutsche Bank
After Reuters reported that Grupo Argos approached Summit Materials about merging, Deutsche Bank analyst Nishu Sood says the combined company would become substantially larger in cement and ready-mix. However, there is only partial local overlap of operations, adds the analyst, citing his preliminary analysis. So operating synergies might be limited, and the combined entity would also have lots of debt, Sood tells investors in a research note. He keeps a Buy rating on Summit Materials.
06/18/19
JEFF
06/18/19
NO CHANGE
JEFF
Summit Materials activist could accelerate buyer interest, says Jefferies
The activist investor filing yesterday by largest shareholder Southeastern Asset Management should, "at a minimum," put a floor on shares of Summit Materials and could accelerate interest from potential buyers, Jefferies analyst Philip Ng tells investors in a research note. The analyst notes that Southeastern wants to have more direct conversations with management and third parties to help recognize the intrinsic value of the company. He says Summit Materials is trading "well below" its replacement value of $29 per share. Ng keeps a Buy rating on the name with a $21 price target.

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AMAT

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$47.79

-0.38 (-0.79%)

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KEYS

Keysight Technologies

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$176.65

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$176.65

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$315.10

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$118.65

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$32.77

-0.32 (-0.97%)

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$44.06

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$0.00

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$30.48

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Viacom

$35.24

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EFX

Equifax

$137.29

-2 (-1.44%)

17:23
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CBS

CBS

$50.68

-0.66 (-1.29%)

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AT&T

$32.77

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NFLX

Netflix

$315.10

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JNJ

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$130.41

-1.62 (-1.23%)

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MRKR

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$6.28

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RDY

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$37.73

-0.6 (-1.57%)

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  • 29

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KLAC

KLA-Tencor

$131.95

-1.5 (-1.12%)

16:37
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16:37
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  • 05

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LRCX

Lam Research

$198.43

0.19 (0.10%)

16:33
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  • 31

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MRVL

Marvell

$25.90

-0.48 (-1.82%)

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KEYS

Keysight Technologies

$87.43

0.05 (0.06%)

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MU

Micron

$45.51

0.85 (1.90%)

16:26
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PYPL

PayPal

$118.65

-1.22 (-1.02%)

, V

Visa

$179.18

-1.34 (-0.74%)

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$275.51

-1.11 (-0.40%)

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USB

U.S. Bancorp

$54.98

-0.2 (-0.36%)

, SBNY

Signature Bank

$123.87

1.07 (0.87%)

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CMG

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$746.80

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  • 23

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BYND

Beyond Meat

$176.65

6.28 (3.69%)

07:40
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07:40
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  • 29

    Jul

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