Analysts Set Summit Materials, Inc. (NYSE:SUM) PT at $50.82

Summit Materials, Inc. (NYSE:SUM) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $51.20.

Separately, Wall Street Zen began coverage on shares of Summit Materials in a report on Thursday, May 22nd. They issued a “sell” rating for the company.

Summit Materials Price Performance

Summit Materials stock opened at $52.54 on Wednesday. The firm has a 50-day moving average price of $52.54 and a 200-day moving average price of $52.31. The firm has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. The company has a current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. Summit Materials has a 12-month low of $34.80 and a 12-month high of $54.07.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SUM. CoreFirst Bank & Trust purchased a new position in Summit Materials in the 4th quarter worth about $56,000. Covestor Ltd increased its stake in Summit Materials by 207.7% in the 4th quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock worth $93,000 after buying an additional 1,236 shares during the period. Sterling Capital Management LLC increased its stake in Summit Materials by 827.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,866 shares of the construction company’s stock worth $196,000 after buying an additional 3,449 shares during the period. Forum Financial Management LP purchased a new position in Summit Materials in the 4th quarter worth about $208,000. Finally, Peapack Gladstone Financial Corp purchased a new position in Summit Materials in the 4th quarter worth about $217,000.

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.