The stock of Summit Materials Inc (NYSE:SUM) is a huge mover today! About 692,010 shares traded hands. Summit Materials Inc (NYSE:SUM) has declined 6.93% since April 4, 2016 and is downtrending. It has underperformed by 8.02% the S&P500.
The move comes after 5 months positive chart setup for the $3.00B company. It was reported on Nov, 4 by Barchart.com. We have $29.14 PT which if reached, will make NYSE:SUM worth $1.41B more.
Summit Materials Inc (NYSE:SUM) Ratings Coverage
Out of 7 analysts covering Summit Materials (NYSE:SUM), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Summit Materials has been the topic of 15 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Citigroup maintained Summit Materials Inc (NYSE:SUM) rating on Monday, April 18. Citigroup has “Buy” rating and $24 price target. The stock of Summit Materials Inc (NYSE:SUM) has “Outperform” rating given on Wednesday, November 4 by RBC Capital Markets. Citigroup initiated Summit Materials Inc (NYSE:SUM) on Tuesday, August 18 with “Neutral” rating. The firm has “Buy” rating given on Thursday, August 4 by Citigroup. The firm has “Outperform” rating given on Thursday, November 3 by RBC Capital Markets. The rating was upgraded by DA Davidson on Monday, August 17 to “Buy”. The company was upgraded on Thursday, October 8 by Bank of America. Goldman Sachs upgraded the stock to “Buy” rating in Friday, October 2 report. The company was maintained on Tuesday, March 22 by Barclays Capital. Goldman Sachs downgraded the stock to “Neutral” rating in Tuesday, October 11 report.
According to Zacks Investment Research, “Summit Materials, Inc. is a construction material company. The company supplies aggregates, cement, ready-mix concrete and asphalt primarily in the United States and western Canada. Summit Materials, Inc. is headquartered in Denver, Colorado.”
Another recent and important Summit Materials Inc (NYSE:SUM) news was published by Businesswire.com which published an article titled: “Summit Materials, Inc. Reports Third Quarter 2016 Results” on November 02, 2016.
SUM Company Profile
Summit Materials, Inc., incorporated on September 23, 2014, is a construction materials company. The Firm operates through three divisions: West, Central and East. The Firm has activities in approximately 20 states in the United States and in British Columbia, Canada. The Company’s materials include aggregates, which it supplies across the country, with a focus on Texas, Kansas, Utah, Missouri and Kentucky, and cement, which it supplies primarily in Missouri, Iowa and along the Mississippi River. Within the Company’s markets, it offers construction materials and related downstream products. In addition to the supply of aggregates to its customers, the Company also uses its materials internally to produce ready-mixed concrete and asphalt paving mix. The Company’s construction materials activities consist of aggregates production, including crushed stone and construction sand and gravel, cement and ready-mixed concrete production and asphalt paving mix production.
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