Jefferies Reaffirms Their Buy Rating on Summit Materials (SUM)

In a report released today, Philip Ng from Jefferies maintained a Buy rating on Summit Materials (SUM – Research Report), with a price target of $60.00. The company’s shares closed yesterday at $40.31.

Ng covers the Consumer Cyclical sector, focusing on stocks such as Ball, Crown Holdings, and Graphic Packaging. According to TipRanks, Ng has an average return of 13.0% and a 62.30% success rate on recommended stocks.

In addition to Jefferies, Summit Materials also received a Buy from Truist Financial’s Keith Hughes in a report issued yesterday. However, on the same day, D.A. Davidson maintained a Hold rating on Summit Materials (NYSE: SUM).

The company has a one-year high of $44.89 and a one-year low of $29.93. Currently, Summit Materials has an average volume of 1.08M.

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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.