Analyst Price Target Update on Summit Materials (NYSE:SUM)

Summit Materials (NYSE:SUM): According to 8 Analysts, The short term target price has been estimated at $ 26.38.The target price could deviate by a maximum of $2.77 from the forecast price. In the near term, the target price could hit a high of $30 and a low of $ 23.

Many analysts have stated their opinion on the company shares. Citigroup maintains its rating on Summit Materials (NYSE:SUM). The global brokerage major raises the current price target from $21 per share to $24 per share. Analysts at the Citigroup have a current rating of Buy on the shares. The rating by the firm was issued on April 18, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities,The director officer (President and CEO) of Summit Materials, Inc., Hill Thomas W. sold 10,000 shares at $22.41 on May 24, 2016. The Insider selling transaction had a total value worth of $224,100. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Summit Materials (NYSE:SUM) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.64 points or 3.13% at $19.83 with 890,664 shares getting traded. Post opening the session at $20.34, the shares hit an intraday low of $19.75 and an intraday high of $20.61 and the price was in this range throughout the day. The company has a market cap of $2,314 million and the number of outstanding shares have been calculated to be 116,704,952 shares. The 52-week high of Summit Materials (NYSE:SUM) is $28.99 and the 52-week low is $13.12.

Summit Materials, Inc. is a construction material company. The Company offers construction materials and related downstream products. The Companys materials include aggregates, which it supplies across the country, with a focus on Texas, Kansas, Kentucky, Utah and Missouri and cement, which the Company supplies in Missouri, Iowa and Illinois. In addition to supplying aggregates, it uses its materials to produce ready-mixed concrete and asphalt paving mix. The Company operates through three segments: West, Central and East. The Companys West region includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming and in British Columbia, Canada. The Companys Central region extends across the Midwestern United States, including Kansas, Missouri, Nebraska, Iowa and Illinois. The Companys East region serves markets in Kentucky, South Carolina, North Carolina, Tennessee and Virginia.

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