Summit Materials, Inc. (NYSE:SUM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Summit Materials, Inc. (NYSE:SUM) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $50.67.

A number of brokerages recently weighed in on SUM. Jefferies Financial Group lowered shares of Summit Materials from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $58.00 to $52.50 in a report on Monday, December 16th. StockNews.com initiated coverage on Summit Materials in a research note on Thursday. They issued a “sell” rating for the company. Finally, Stephens cut Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Summit Materials Stock Up 0.2 %

NYSE:SUM opened at $52.54 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. The firm has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. Summit Materials has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The firm has a 50-day simple moving average of $52.47 and a two-hundred day simple moving average of $48.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new position in Summit Materials in the 4th quarter worth $25,000. Versant Capital Management Inc increased its position in Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after buying an additional 353 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Summit Materials in the third quarter worth about $28,000. CoreFirst Bank & Trust bought a new position in shares of Summit Materials in the fourth quarter worth about $56,000. Finally, R Squared Ltd purchased a new position in shares of Summit Materials during the 4th quarter valued at about $57,000.

About Summit Materials

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.