Summit Materials (NYSE:SUM) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Summit Materials (NYSE:SUM) in a research note issued on Saturday. The firm set a “sell” rating on the construction company’s stock.

Several other equities research analysts also recently commented on the company. Stephens downgraded Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and dropped their target price for the stock from $58.00 to $52.50 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.67.

Summit Materials Trading Up 0.2 %

Shares of NYSE SUM opened at $52.54 on Friday. The company has a market cap of $9.23 billion, a PE 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. The firm’s 50 day moving average price is $52.53 and its 200-day moving average price is $49.63. Summit Materials has a 52-week low of $34.64 and a 52-week high of $54.07.

Institutional Trading of Summit Materials

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of Summit Materials by 18.4% in the third quarter. FMR LLC now owns 47,283 shares of the construction company’s stock valued at $1,845,000 after acquiring an additional 7,350 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Summit Materials during the 3rd quarter valued at approximately $838,000. Barclays PLC raised its holdings in shares of Summit Materials by 222.4% during the 3rd quarter. Barclays PLC now owns 211,442 shares of the construction company’s stock worth $8,252,000 after acquiring an additional 145,858 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Summit Materials by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after purchasing an additional 9,566 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in Summit Materials by 50.8% in the third quarter. Sanctuary Advisors LLC now owns 25,402 shares of the construction company’s stock worth $991,000 after purchasing an additional 8,559 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.