Brokerage Firm Rating Update on Summit Materials (SUM)

Summit Materials (SUM) has an average broker rating of 1.2, which is interpreted as a Strong Buy, as rated by 5 equity analysts. Nonetheless, 4 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Summit Materials (SUM) : The most positive equity analysts on Summit Materials (SUM) expects the shares to touch $30, whereas, the least positive believes that the stock will trade at $23 in the short term. The company is covered by 5 Wall Street Brokerage Firms. The average price target for shares are $25.8 with an expected fluctuation of $2.77 from the mean.


For this week, the average consensus of the company shares are rated as a Strong Buy. Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Summit Materials (NYSE:SUM). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $25 per share to $26 per share. The rating by the firm was issued on August 5, 2016.

Summit Materials (NYSE:SUM): The stock opened at $18.69 and touched an intraday high of $19.0425 on Wednesday. During the day, the stock corrected to an intraday low of $18.58, however, the bulls stepped in and pushed the price higher to close in the green at $18.92 with a gain of 0.16% for the day. The total traded volume for the day was 2,113,574. The stock had closed at $18.89 in the previous trading session.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.