Analyst Rating Update on Summit Materials (SUM)

Summit Materials (NYSE:SUM) : 7 analysts are covering Summit Materials (NYSE:SUM) and their average rating on the stock is 1.14, which is read as a Strong Buy. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Summit Materials (NYSE:SUM) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels.

Summit Materials (NYSE:SUM) : 7 Wall Street analysts covering Summit Materials (NYSE:SUM) believe that the average level the stock could reach for the short term is $26.71. The maximum price target given is $30 and the minimum target for short term is around $23, hence the standard deviation is calculated at $2.81.

For this week, the average consensus of the company shares are rated as a Strong Buy. Also, Equity Analysts at the Citigroup maintains the rating on Summit Materials (NYSE:SUM). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $21 per share to $24 per share. The rating by the firm was issued on April 18, 2016.

Summit Materials (NYSE:SUM): On Tuesdays trading session , Opening price of the stock was $18.89 with an intraday high of $19.06. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $18.1799. However, the stock managed to close at $18.43, a loss of 0.70% for the day. On the previous day, the stock had closed at $18.56. The total traded volume of the day was 1,047,533 shares.

In an insider trading activity, The Securities and Exchange Commission has divulged that Hill Thomas W., director officer (President and CEO) of Summit Materials, Inc., had unloaded 10,000 shares at an average price of $20.39 in a transaction dated on June 22, 2016. The total value of the transaction was worth $203,900.

Summit Materials, Inc. is a construction material company. The Company offers construction materials and related downstream products. The Companys materials include aggregates, which it supplies across the country, with a focus on Texas, Kansas, Kentucky, Utah and Missouri and cement, which the Company supplies in Missouri, Iowa and Illinois. In addition to supplying aggregates, it uses its materials to produce ready-mixed concrete and asphalt paving mix. The Company operates through three segments: West, Central and East. The Companys West region includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming and in British Columbia, Canada. The Companys Central region extends across the Midwestern United States, including Kansas, Missouri, Nebraska, Iowa and Illinois. The Companys East region serves markets in Kentucky, South Carolina, North Carolina, Tennessee and Virginia.

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