Summit Materials (TSE:SUM) Given a “Neutral” Rating by Goldman Sachs. Lost Its “Buy” Rating

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Goldman Sachs Analyst Rating Change Summit Materials TSE:SUM

Summit Materials (TSE:SUM) Rating Cut

Goldman Sachs decreased Summit Materials (TSE:SUM)’s stock to “Neutral” rating from “Buy”. The rating change was made public in a note today.

The stock downgrade is noticed by equity traders, as TSE:SUM is currently trading 0.00% lower at $7.70 as of 04:06 New York time. Summit Materials’s stock is up 239.19% in the past 200 days. It has outperformed the S&P500, which has added 4.81% in the same time period.

Out of 7 analysts covering Summit Materials, 5 rate it a Buy, 2 indicate a Hold while 0 suggest a Sell. The highest target is $7.79 and the lowest is $4.28 according to Thomson/First Call. The 12-month mean target is $6.39, which means downside potential of 17.01% over the current price.

SUM Stock Chart

Summit Materials (TSE:SUM) Profile

Solium Capital Inc. is a software-as-a-service (SaaS) company. The Company provides cloud-enabled services for global equity administration, financial reporting and compliance. The Company operates though the segment of administration of equity-based incentive and savings programs for corporations and their employees.

Summit Materials (TSE:SUM) closed at $7.7 yesterday. A total of 50,650 shares of the company’s stock traded hands. This is up from average of 33,941 shares. Summit Materials has a 52 week low of $5.76 and a 52 week high of $8.11. The company has a market cap of $393.09M and a P/E ratio of 64.78.

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