Summit Materials (NYSE:SUM) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Summit Materials (NYSE:SUM) in a research note issued to investors on Tuesday. The firm issued a sell rating on the construction company’s stock.

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

Summit Materials Stock Up 0.2 %

Shares of Summit Materials stock opened at $52.54 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48. Summit Materials has a 1-year low of $34.64 and a 1-year high of $54.07. The business’s fifty day moving average price is $52.54 and its two-hundred day moving average price is $51.28. The company has a market capitalization of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. TIG Advisors LLC bought a new position in Summit Materials in the fourth quarter valued at $105,181,000. FIL Ltd bought a new position in Summit Materials during the fourth quarter worth $95,128,000. Balyasny Asset Management L.P. acquired a new position in shares of Summit Materials in the fourth quarter valued at $81,828,000. Magnetar Financial LLC bought a new position in shares of Summit Materials in the fourth quarter valued at about $79,094,000. Finally, Norges Bank acquired a new stake in shares of Summit Materials during the 4th quarter worth about $71,315,000.

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.