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

Summit Materials, Inc. (NYSE:SUM) has been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts 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 Stock Up 0.2%

Shares of Summit Materials stock opened at $52.54 on Friday. The business’s 50 day simple moving average is $52.54 and its 200 day simple moving average is $52.11. Summit Materials has a 52-week low of $34.64 and a 52-week high of $54.07. The firm 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.

Institutional Trading of Summit Materials

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Summit Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock valued at $626,074,000 after purchasing an additional 56,602 shares during the period. Janus Henderson Group PLC boosted its stake in Summit Materials by 11.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,096,383 shares of the construction company’s stock valued at $156,682,000 after purchasing an additional 324,902 shares during the period. TIG Advisors LLC bought a new stake in Summit Materials in the 4th quarter valued at $105,181,000. FIL Ltd bought a new stake in Summit Materials in the 4th quarter valued at $95,128,000. Finally, JPMorgan Chase & Co. boosted its stake in Summit Materials by 293.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,863,463 shares of the construction company’s stock valued at $94,291,000 after purchasing an additional 1,389,955 shares during the period.

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.