RBC Capital Reaffirms Their Buy Rating on Summit Materials (SUM)

In a report released on November 4, Michael Dahl from RBC Capital maintained a Buy rating on Summit Materials (SUMResearch Report), with a price target of $34.00. The company’s shares closed yesterday at $27.85.

According to TipRanks, Dahl is a 4-star analyst with an average return of 6.0% and a 53.27% success rate. Dahl covers the Consumer Goods sector, focusing on stocks such as Toll Brothers, KB Home, and Lennar.

Currently, the analyst consensus on Summit Materials is a Moderate Buy with an average price target of $32.83, representing a 17.88% upside. In a report released on November 4, Stifel Nicolaus also maintained a Buy rating on the stock with a $48.00 price target.

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The company has a one-year high of $41.46 and a one-year low of $21.99. Currently, Summit Materials has an average volume of 758.9K.

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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.

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