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

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

Separately, Stephens downgraded Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Summit Materials has a consensus rating of “Hold” and an average target price of $50.67.

Summit Materials Price Performance

Shares of Summit Materials stock opened at $52.54 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. Summit Materials has a 52-week low of $34.64 and a 52-week high of $54.07. The company has a fifty day moving average of $52.54 and a 200-day moving average of $51.20. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.07 and a beta of 1.13.

Hedge Funds Weigh In On Summit Materials

A number of institutional investors have recently bought and sold shares of SUM. Empowered Funds LLC bought a new position in shares of Summit Materials in the 4th quarter worth approximately $25,000. Versant Capital Management Inc grew 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 purchasing an additional 353 shares during the period. CoreFirst Bank & Trust bought a new position in Summit Materials in the fourth quarter worth $56,000. R Squared Ltd purchased a new position in Summit Materials during the fourth quarter valued at $57,000. Finally, Covestor Ltd boosted its holdings in shares of Summit Materials by 207.7% during the 4th quarter. Covestor Ltd now owns 1,831 shares of the construction company’s stock valued at $93,000 after buying an additional 1,236 shares in the last quarter.

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.