Summit Materials Inc (NYSE:SUM) has been given an average rating of “Buy” by the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.70.
A number of research analysts recently weighed in on SUM shares. ValuEngine lowered Summit Materials from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised Summit Materials from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Summit Materials from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Barclays set a $18.00 target price on Summit Materials and gave the stock a “hold” rating in a report on Friday, June 14th.
SUM stock opened at $21.43 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.38 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $2.40 billion, a PE ratio of 142.87 and a beta of 2.17. Summit Materials has a 1-year low of $11.25 and a 1-year high of $23.10. The business’s 50 day simple moving average is $21.31 and its 200 day simple moving average is $18.07.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUM. Quantamental Technologies LLC bought a new stake in Summit Materials in the 2nd quarter valued at $154,000. Financial Counselors Inc. bought a new stake in Summit Materials in the 1st quarter valued at $175,000. Skylands Capital LLC bought a new stake in Summit Materials in the 2nd quarter valued at $193,000. Sheets Smith Wealth Management boosted its stake in Summit Materials by 24.0% in the 1st quarter. Sheets Smith Wealth Management now owns 14,904 shares of the construction company’s stock valued at $237,000 after purchasing an additional 2,883 shares during the period. Finally, Advisor Group Inc. boosted its stake in Summit Materials by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 12,834 shares of the construction company’s stock valued at $248,000 after purchasing an additional 1,135 shares during the period.
Summit Materials Company Profile
Summit Materials, Inc, through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, residential and nonresidential, and other markets. It operates in 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.
Read More: Trading Options- What is a Strangle?
Receive News & Ratings for Summit Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Materials and related companies with MarketBeat.com's FREE daily email newsletter.