Summit Materials Stock Market Value
| SUM Stock | USD 51.16 2.76 5.70% |
| Symbol | Summit |
Summit Materials Price To Book Ratio
Is Construction Materials space 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 (0.69) | Earnings Share 0.85 | Revenue Per Share 23.53 | Quarterly Revenue Growth 0.474 | Return On Assets 0.0464 |
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.
Summit Materials 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Summit Materials' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Summit Materials.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Summit Materials on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Summit Materials or generate 0.0% return on investment in Summit Materials over 30 days. Summit Materials is related to or competes with Martin Marietta, Vulcan Materials, United States, James Hardie, Loma Negra, Eagle Materials, and Cementos Pacasmayo. Summit Materials, Inc., through its subsidiaries, produces and sells construction materials and related downstream produ... More
Summit Materials Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Summit Materials' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Summit Materials upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.18 | |||
| Information Ratio | 0.1213 | |||
| Maximum Drawdown | 9.88 | |||
| Value At Risk | (2.73) | |||
| Potential Upside | 4.05 |
Summit Materials Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Summit Materials' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Summit Materials' standard deviation. In reality, there are many statistical measures that can use Summit Materials historical prices to predict the future Summit Materials' volatility.| Risk Adjusted Performance | 0.1301 | |||
| Jensen Alpha | 0.2236 | |||
| Total Risk Alpha | 0.1033 | |||
| Sortino Ratio | 0.125 | |||
| Treynor Ratio | 0.2279 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Summit Materials' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Summit Materials Backtested Returns
Summit Materials appears to be very steady, given 3 months investment horizon. Summit Materials owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.17, which indicates the firm had a 0.17% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Summit Materials, which you can use to evaluate the volatility of the company. Please review Summit Materials' Coefficient Of Variation of 610.24, risk adjusted performance of 0.1301, and Semi Deviation of 1.79 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Summit Materials holds a performance score of 13. The entity has a beta of 1.57, which indicates a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Summit Materials will likely underperform. Please check Summit Materials' value at risk, as well as the relationship between the kurtosis and price action indicator , to make a quick decision on whether Summit Materials' existing price patterns will revert.
Auto-correlation | -0.07 |
Very weak reverse predictability
Summit Materials has very weak reverse predictability. Overlapping area represents the amount of predictability between Summit Materials time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Summit Materials price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Summit Materials price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 0.87 |
Summit Materials lagged returns against current returns
Autocorrelation, which is Summit Materials stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Summit Materials' stock expected returns. We can calculate the autocorrelation of Summit Materials returns to help us make a trade decision. For example, suppose you find that Summit Materials has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Summit Materials regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Summit Materials stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Summit Materials stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Summit Materials stock over time.
Current vs Lagged Prices |
| Timeline |
Summit Materials Lagged Returns
When evaluating Summit Materials' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Summit Materials stock have on its future price. Summit Materials autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Summit Materials autocorrelation shows the relationship between Summit Materials stock current value and its past values and can show if there is a momentum factor associated with investing in Summit Materials.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectCheck out Summit Materials Correlation, Summit Materials Volatility and Summit Materials Alpha and Beta module to complement your research on Summit Materials. To learn how to invest in Summit Stock, please use our How to Invest in Summit Materials guide.You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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.