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

Shares of Summit Materials, Inc. (NYSE:SUM) have been assigned an average rating of “Hold” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $50.82.

Separately, StockNews.com assumed coverage on shares of Summit Materials in a research note on Wednesday. They set a “sell” rating for the company.

Summit Materials Price Performance

SUM opened at $52.54 on Tuesday. The company has a quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62. Summit Materials has a 52-week low of $34.64 and a 52-week high of $54.07. The company has a 50 day moving average of $52.54 and a two-hundred day moving average of $51.69. The company has a market cap of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SUM. Barclays PLC lifted its position in shares of Summit Materials by 222.4% during the third quarter. Barclays PLC now owns 211,442 shares of the construction company’s stock worth $8,252,000 after purchasing an additional 145,858 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Summit Materials in the third quarter valued at $7,359,000. Assenagon Asset Management S.A. raised its holdings in Summit Materials by 1,436.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock valued at $44,501,000 after acquiring an additional 822,222 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Summit Materials in the fourth quarter valued at $704,000. Finally, Value Holdings Management CO. LLC raised its holdings in Summit Materials by 90.0% in the fourth quarter. Value Holdings Management CO. LLC now owns 19,000 shares of the construction company’s stock valued at $962,000 after acquiring an additional 9,000 shares in 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.