Stephens Thinks Summit Materials’ Stock is Going to Recover


In a report released today, Trey Grooms from Stephens reiterated a Buy rating on Summit Materials (NYSE: SUM), with a price target of $24. The company’s shares opened today at $21, close to its 52-week low of $20.50.

According to TipRanks.com, Grooms is a 2-star analyst with an average return of 1.0% and a 46.5% success rate. Grooms covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Masonite International, and BMC Stock Holdings.

Summit Materials has an analyst consensus of Moderate Buy, with a price target consensus of $35, representing a 66.7% upside. In a report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $35 price target.

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The company has a one-year high of $34.06 and a one-year low of $20.50. Currently, Summit Materials has an average volume of 1.63M.

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Summit Materials, Inc. is a construction materials company. 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.

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