Summit Materials (NYSE:SUM) Earns Sell Rating from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Summit Materials (NYSE:SUM) in a report issued on Tuesday. The brokerage set a “sell” rating on the construction company’s stock.

Separately, Stephens downgraded Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.67.

Summit Materials Stock Up 0.2 %

Shares of SUM opened at $52.54 on Tuesday. Summit Materials has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The company’s fifty day moving average is $52.54 and its two-hundred day moving average is $51.19. 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 quick ratio of 2.48, a current ratio of 3.10 and a debt-to-equity ratio of 0.62.

Hedge Funds Weigh In On Summit Materials

A number of institutional investors have recently added to or reduced their stakes in SUM. Empowered Funds LLC purchased a new stake in shares of Summit Materials during the fourth quarter worth about $25,000. Versant Capital Management Inc raised its stake in Summit Materials by 179.2% during the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after buying an additional 353 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Summit Materials during the fourth quarter valued at approximately $56,000. R Squared Ltd bought a new position in Summit Materials during the 4th quarter worth approximately $57,000. Finally, Covestor Ltd raised its position in shares of Summit Materials by 207.7% during the 4th quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock valued at $93,000 after acquiring an additional 1,236 shares in the last quarter.

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.