In a report released today, Philip Ng from Jefferies reiterated a Buy rating on Summit Materials (NYSE: SUM), with a price target of $33. The company’s shares opened today at $19.22, close to its 52-week low of $18.47.
According to TipRanks.com, Ng is ranked #355 out of 4879 analysts.
Currently, the analyst consensus on Summit Materials is a Strong Buy with an average price target of $31.60, a 64.4% upside from current levels. In a report issued on September 11, Deutsche Bank also maintained a Buy rating on the stock with a $30 price target.
.
See today’s analyst top recommended stocks >>
Summit Materials’ market cap is currently $2.15B and has a P/E ratio of 20.90. The company has a Price to Book ratio of 1.70.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SUM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
