Summit Materials, Inc. (NYSE:SUM) Given Average Rating of “Hold” by Analysts

Summit Materials, Inc. (NYSE:SUM) has received an average rating of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $50.82.

Separately, Wall Street Zen started coverage on Summit Materials in a research note on Thursday, May 22nd. They issued a “sell” rating for the company.

Summit Materials Trading Up 0.2%

Shares of SUM opened at $52.54 on Friday. The business has a 50-day moving average of $52.54 and a 200 day moving average of $52.13. Summit Materials has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The firm has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10.

Institutional Trading of Summit Materials

A number of large investors have recently modified their holdings of SUM. Empowered Funds LLC bought a new stake in shares of Summit Materials during the 4th quarter valued at about $25,000. ABC Arbitrage SA bought a new stake in shares of Summit Materials during the 4th quarter valued at about $5,430,000. Rhumbline Advisers boosted its position in shares of Summit Materials by 3.7% during the 4th quarter. Rhumbline Advisers now owns 209,094 shares of the construction company’s stock valued at $10,580,000 after acquiring an additional 7,510 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of Summit Materials by 9.5% during the 4th quarter. Congress Asset Management Co. now owns 557,830 shares of the construction company’s stock valued at $28,226,000 after acquiring an additional 48,421 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its position in shares of Summit Materials by 15.6% during the 4th quarter. Valmark Advisers Inc. now owns 37,550 shares of the construction company’s stock valued at $1,900,000 after acquiring an additional 5,060 shares during the last quarter.

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.