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

StockNews.com began coverage on shares of Summit Materials (NYSE:SUM) in a report released on Thursday. The firm issued a sell rating on the construction company’s stock.

Other equities analysts also recently issued reports about the company. Stephens downgraded Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Jefferies Financial Group cut shares of Summit Materials from a “buy” rating to a “hold” rating and lowered their target price 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, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Summit Materials presently has an average rating of “Hold” and an average price target of $50.67.

Summit Materials Stock Up 0.2 %

SUM stock opened at $52.54 on Thursday. Summit Materials has a one year low of $34.64 and a one year 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 firm’s 50 day moving average price is $52.47 and its 200-day moving average price is $48.46. 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 Investors Weigh In On Summit Materials

Several institutional investors have recently bought and sold shares of SUM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Summit Materials during the 4th quarter worth $704,000. Franklin Resources Inc. acquired a new position in shares of Summit Materials during the third quarter worth about $7,359,000. Assenagon Asset Management S.A. boosted its position in shares of Summit Materials by 1,436.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 879,466 shares of the construction company’s stock worth $44,501,000 after buying an additional 822,222 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Summit Materials by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 287,733 shares of the construction company’s stock worth $11,230,000 after buying an additional 10,463 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Summit Materials by 21.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock valued at $68,419,000 after buying an additional 313,957 shares in 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.