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

StockNews.com initiated coverage on shares of Summit Materials (NYSE:SUM - Free Report) in a research note issued to investors on Friday. The brokerage issued a sell rating on the construction company's stock.

A number of other analysts have also weighed in on the company. Longbow Research reissued a "neutral" rating on shares of Summit Materials in a research note on Tuesday, November 26th. Loop Capital restated a "hold" rating and set a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a report on Tuesday, November 26th. Citigroup reaffirmed a "neutral" rating and set a $52.50 price target (down previously from $55.00) on shares of Summit Materials in a research report on Tuesday, November 26th. DA Davidson boosted their target price on Summit Materials from $41.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group cut shares of Summit Materials from a "buy" rating to a "hold" rating and cut their price target for the company from $58.00 to $52.50 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Summit Materials has a consensus rating of "Hold" and an average price target of $50.54.

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Summit Materials Trading Up 0.2 %

NYSE SUM traded up $0.08 during trading on Friday, hitting $52.53. 4,694,636 shares of the company's stock traded hands, compared to its average volume of 3,591,351. The stock has a fifty day moving average of $51.45 and a two-hundred day moving average of $45.13. Summit Materials has a 12-month low of $34.64 and a 12-month 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 current ratio of 3.10 and a quick ratio of 2.48.

Insiders Place Their Bets

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of Summit Materials stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total value of $78,197.76. Following the completion of the sale, the insider now owns 40,221 shares of the company's stock, valued at approximately $2,047,651.11. This trade represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On Summit Materials

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC bought a new position in Summit Materials during the 4th quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in Summit Materials during the third quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Summit Materials in the third quarter worth approximately $28,000. Versant Capital Management Inc grew its position in Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company's stock worth $28,000 after purchasing an additional 353 shares during the period. Finally, Toth Financial Advisory Corp raised its stake in Summit Materials by 147.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company's stock valued at $33,000 after buying an additional 500 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.