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

Shares of Summit Materials, Inc. (NYSE:SUM) have been given an average rating of “Hold” by the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $50.67.

A number of research analysts have weighed in on SUM shares. Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and dropped their target price for the company from $58.00 to $52.50 in a research note on Monday, December 16th. Stephens downgraded shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, StockNews.com assumed coverage on shares of Summit Materials in a report on Thursday. They set a “sell” rating on the stock.

Summit Materials Stock Performance

Shares of SUM opened at $52.54 on Monday. The stock has a 50 day moving average of $52.47 and a 200 day moving average of $48.37. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. Summit Materials has a 12 month low of $34.64 and a 12 month high of $54.07. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62.

Institutional Trading of Summit Materials

Several institutional investors and hedge funds have recently made changes to their positions in SUM. Empowered Funds LLC bought a new position in Summit Materials in the fourth quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Summit Materials in the 3rd quarter worth about $28,000. Versant Capital Management Inc increased its position in shares of Summit Materials by 179.2% during the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after purchasing an additional 353 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Summit Materials during the 3rd quarter valued at about $53,000. Finally, CoreFirst Bank & Trust bought a new stake in Summit Materials in the 4th quarter worth approximately $56,000.

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.