Summit Materials (NYSE:SUM) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Summit Materials (NYSE:SUM) in a research note issued to investors on Monday morning. The firm issued a sell rating on the construction company’s stock.

Separately, Stephens cut Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.67.

Summit Materials Price Performance

Shares of SUM stock opened at $52.54 on Monday. The stock’s fifty day moving average is $52.54 and its 200-day moving average is $50.79. The stock has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. Summit Materials has a 52 week low of $34.64 and a 52 week high of $54.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10.

Hedge Funds Weigh In On Summit Materials

Several hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC lifted its stake in Summit Materials by 2.3% in the fourth quarter. Mariner LLC now owns 8,641 shares of the construction company’s stock valued at $437,000 after buying an additional 196 shares during the period. Arizona State Retirement System lifted its stake in Summit Materials by 0.9% in the fourth quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock valued at $1,805,000 after buying an additional 304 shares during the period. Versant Capital Management Inc lifted its stake in Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after buying an additional 353 shares during the period. Synovus Financial Corp lifted its stake in Summit Materials by 1.6% in the fourth quarter. Synovus Financial Corp now owns 28,689 shares of the construction company’s stock valued at $1,452,000 after buying an additional 445 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Summit Materials during the fourth quarter worth about $25,000.

Summit Materials Company Profile

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.