RBC Capital Sticks to Its Hold Rating for Summit Materials (SUM)

RBC Capital analyst Michael Dahl maintained a Hold rating on Summit Materials (SUMResearch Report) on May 24 and set a price target of $33.00. The company’s shares closed last Wednesday at $26.66, close to its 52-week low of $24.08.

According to TipRanks.com, Dahl is a 4-star analyst with an average return of 6.0% and a 53.9% success rate. Dahl covers the Consumer Goods sector, focusing on stocks such as Skyline Champion, Taylor Morrison, and Tri Pointe.

Currently, the analyst consensus on Summit Materials is a Moderate Buy with an average price target of $36.75.

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Summit Materials’ market cap is currently $3.05B and has a P/E ratio of 21.91.

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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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