Summit Materials (NYSE:SUM) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Summit Materials (NYSE:SUM) in a research report sent to investors on Saturday morning. The firm issued a sell rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial reiterated a “hold” rating and issued a $52.50 target price (down previously from $60.00) on shares of Summit Materials in a report on Tuesday, November 26th. Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Loop Capital reissued a “hold” rating and set a $52.50 price target (down from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Barclays raised Summit Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $52.00 in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $52.50 price target (down from $54.00) on shares of Summit Materials in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Summit Materials presently has a consensus rating of “Hold” and an average price target of $50.54.

Summit Materials Price Performance

Shares of Summit Materials stock opened at $52.54 on Friday. The stock has a market cap of $9.23 billion, a price-to-earnings 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. The stock has a 50 day moving average price of $51.62 and a 200-day moving average price of $45.53. Summit Materials has a one year low of $34.64 and a one year high of $54.07.

Insider Buying and Selling at Summit Materials

In other Summit Materials news, insider Christopher Burke Gaskill sold 1,536 shares of Summit Materials stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.91, for a total transaction of $78,197.76. Following the completion of the sale, the insider now directly owns 40,221 shares of the company’s stock, valued at $2,047,651.11. The trade was a 3.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SUM. Empowered Funds LLC purchased a new position in shares of Summit Materials in the 4th quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in shares of Summit Materials in the 3rd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Summit Materials in the 3rd quarter valued at $28,000. Versant Capital Management Inc increased its holdings in shares of Summit Materials by 179.2% in the 4th quarter. Versant Capital Management Inc now owns 550 shares of the construction company’s stock valued at $28,000 after acquiring an additional 353 shares during the period. Finally, Toth Financial Advisory Corp increased its holdings in shares of Summit Materials by 147.1% in the 3rd quarter. Toth Financial Advisory Corp now owns 840 shares of the construction company’s stock valued at $33,000 after acquiring an additional 500 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.