SunTrust Robinson Thinks Summit Materials’ Stock is Going to Recover
In a report issued on October 10, Rohit Seth from SunTrust Robinson reiterated a Buy rating on Summit Materials (NYSE: SUM), with a price target of $23. The company’s shares closed yesterday at $15.38, close to its 52-week low of $15.36.
According to TipRanks.com, Seth is ranked #2292 out of 4877 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Summit Materials with a $28.67 average price target, an 86.4% upside from current levels. In a report released yesterday, D.A. Davidson also maintained a Buy rating on the stock with a $28 price target.
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Summit Materials’ market cap is currently $1.72B and has a P/E ratio of 16.72. The company has a Price to Book ratio of 1.36.
Based on the recent corporate insider activity of 47 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.
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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.