Summit Materials (SUM) : During the past 4 weeks, traders have been relatively bearish on Summit Materials (SUM), hence the stock is down -7.2% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.79% relative to the S&P 500. The 4-week change in the price of the stock is -6.24% and the stock has fallen -0.73% in the past 1 week.
The stock has recorded a 20-day Moving Average of 5.2% and the 50-Day Moving Average is 2.93%. Summit Materials (NYSE:SUM): On Fridays trading session , Opening price of the stock was $20.32 with an intraday high of $20.565. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $20.165. However, the stock managed to close at $20.27, a loss of 0.34% for the day. On the previous day, the stock had closed at $20.34. The total traded volume of the day was 853,214 shares.
The company Insiders own 4.49% of Summit Materials shares according to the proxy statements. Institutional Investors own 41.97% of Summit Materials shares. Also, In a research note released to the investors, Citigroup maintains its rating on Summit Materials (NYSE:SUM).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Citigroup raises the new price target from $25 per share to $26 per share. The rating by the firm was issued on August 5, 2016.
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.