StockNews.com Initiates Coverage on Summit Materials (NYSE:SUM)

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

Separately, Stephens cut shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One 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, Summit Materials presently has a consensus rating of “Hold” and a consensus price target of $50.67.

Summit Materials Stock Up 0.2 %

SUM opened at $52.54 on Monday. 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 fifty day moving average is $52.54 and its 200 day moving average is $50.78. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13. Summit Materials has a fifty-two week low of $34.64 and a fifty-two week high of $54.07.

Institutional Trading of Summit Materials

Institutional investors have recently bought and sold shares of the stock. Mariner LLC raised its holdings in shares of Summit Materials by 2.3% in the fourth quarter. Mariner LLC now owns 8,641 shares of the construction company’s stock worth $437,000 after buying an additional 196 shares during the period. Arizona State Retirement System lifted its holdings in shares of Summit Materials by 0.9% in the 4th quarter. Arizona State Retirement System now owns 35,671 shares of the construction company’s stock worth $1,805,000 after buying an additional 304 shares during the period. Versant Capital Management Inc lifted its stake in Summit Materials by 179.2% in the fourth quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock worth $28,000 after acquiring an additional 353 shares during the period. Synovus Financial Corp lifted its position in shares of Summit Materials by 1.6% in the 4th quarter. Synovus Financial Corp now owns 28,689 shares of the construction company’s stock worth $1,452,000 after purchasing an additional 445 shares during the period. Finally, Empowered Funds LLC bought a new stake in Summit Materials during the 4th quarter valued at $25,000.

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.