A statement released earlier today by Zacks Investment Research about Summit Materials Inc (NYSE:SUM) ups the target price to $21.00
- Updated: October 8, 2016
Yesterday Summit Materials Inc (NYSE:SUM) traded -3.05% lower at $18.82. The company’s 50-day moving average is $19.11 and its 200-day moving average is $20.39. The last stock close price is down -7.94% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,078,832 shares of the stock were exchanged, down from an average trading volume of 1,268,920
In a report issued 10/06/2016 Zacks Investment Research raised the target price of Summit Materials Inc (NYSE:SUM) to $21.00 stating a potential upside of 0.12%.
Previously on 3/22/2016, Barclays Capital reported about Summit Materials Inc (NYSE:SUM) raised the target price from $19.00 to $20.00. At the time, this indicated a possible upside of 0.02%.
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Summit Materials Inc has a 52 week low of $13.12 and a 52 week high of $24.97 with a P/E ratio of 56.37 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 11 firms have reported on the stock. The consensus target price is $23.78 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 0 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About Summit Materials Inc (NYSE:SUM)
Summit Materials, Inc. is a construction materials company. The Company operates through three segments: the west segment, which includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming, and in British Columbia, Canada; east segment, which serves markets across the Midwestern and Eastern United States, and Cement segment, which consists of its Hannibal, Missouri and Davenport, Iowa cement plants and approximately eight distribution terminals along the Mississippi River from Minnesota to Louisiana. It supplies aggregates, ready-mixed concrete, asphalt paving mix and paving and related services in the West segment, and aggregates, ready-mixed concrete, asphalt paving mix and paving and related services in east segment. The Company has operations in approximately 20 states in the United States and in British Columbia, Canada. The Company serves markets, including residential construction, nonresidential construction and public infrastructure construction.
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