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

Summit Materials, Inc. (NYSE:SUM) has been assigned an average rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $50.82.

Separately, Wall Street Zen assumed coverage on Summit Materials in a report on Thursday, May 22nd. They set a “sell” rating on the stock.

Summit Materials Stock Performance

Shares of NYSE SUM 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 current ratio of 3.10, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. Summit Materials has a 1-year low of $34.64 and a 1-year high of $54.07. The stock’s 50-day moving average is $52.54 and its 200 day moving average is $52.13.

Hedge Funds Weigh In On Summit Materials

Large investors have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new position in Summit Materials in the 4th quarter worth approximately $25,000. CoreFirst Bank & Trust purchased a new position in Summit Materials in the 4th quarter worth approximately $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 purchasing 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 purchasing an additional 3,449 shares during the period. Finally, Forum Financial Management LP purchased a new position in Summit Materials in the 4th quarter worth approximately $208,000.

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.