Summit Materials (SUM) Receives a Rating Update from a Top Analyst

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 $50.00. The company’s shares closed yesterday at $39.23.

According to TipRanks, Elliott is a top 100 analyst with an average return of 18.8% and a 69.89% success rate. Elliott covers the Industrials sector, focusing on stocks such as WillScot Mobile Mini Holdings, MSA Safety, and Astec.

In addition to Stifel Nicolaus, Summit Materials also received a Buy from Truist Financial’s Keith Hughes in a report issued today. However, on the same day, Barclays maintained a Hold rating on Summit Materials (NYSE: SUM).

SUM market cap is currently $6.88B and has a P/E ratio of 16.44.

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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.