In a report released today, Stanley Elliott from Stifel Nicolaus maintained a Buy rating on Summit Materials (SUM – Research Report), with a price target of $45.00. The company’s shares closed last Friday at $36.50.
According to TipRanks, Elliott is a top 100 analyst with an average return of 18.1% and a 70.64% success rate. Elliott covers the Industrials sector, focusing on stocks such as Agco, Builders Firstsource, and Terex.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Summit Materials with a $43.29 average price target, implying a 18.60% upside from current levels. In a report released on January 23, Jefferies also maintained a Buy rating on the stock with a $50.00 price target.
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The company has a one-year high of $39.56 and a one-year low of $25.43. Currently, Summit Materials has an average volume of 731.1K.
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Summit Materials (SUM) Company Description:
Summit Materials, Inc. is a construction materials company. It manufactures construction materials and related downstream products. The company operates its business through the following segments: Cement, West and East. The Cement consists of its Hannibal, Missouri and Davenport, Iowa cement plants and distribution terminals along the Mississippi river from Minnesota to Louisiana. The West segment includes operations in Texas, Utah, Colorado, Idaho, Wyoming and Nevada and in British Columbia, Canada. The East segments serves markets extending across the Midwestern and Eastern United States, most notably in Kansas, Missouri, Virginia, Kentucky, North Carolina, South Carolina and Nebraska where the company supplies aggregates, ready mix concrete, asphalt paving mix and paving and related services. The company was founded by Thomas W. Hill on September 23, 2014 and is headquartered in Denver, CO.
Read More on SUM:
- Summit Materials Completes Combination with Argos USA
- Summit Materials downgraded to Sector Perform from Outperform at RBC Capital
- Summit Materials Shareholders Approve Combination with Argos USA
- Summit Materials shareholders approve transaction agreement with Argos
- Summit Materials price target raised to $43 from $39 at Citi
