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Summit Materials, Inc. (SUM) is a construction materials company.
The Company operates through three segments: the west segment, which includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming, and in British Columbia, Canada; east segment, which serves markets across the Midwestern and Eastern United States, and Cement segment, which consists of its Hannibal, Missouri and Davenport, Iowa cement plants and approximately eight distribution terminals along the Mississippi River from Minnesota to Louisiana.
It supplies aggregates, ready-mixed concrete, asphalt paving mix and paving and related services in the West segment, and aggregates, ready-mixed concrete, asphalt paving mix and paving and related services in east segment.
The Company has operations in approximately 20 states in the United States and in British Columbia, Canada. The Company serves markets, including residential construction, nonresidential construction and public infrastructure construction.
Shares have formed a bullish "flag" following several developments for the company: Company sold shares to shore up its financial balance sheet, shares were over subscribed; company should benefit from the long promised infrasructre spending by the new president-elect and finally shares have been accumulation by mutual funds. In fact, 280 funds reported buying shares of the company in the previous quarter. Higher share prices are expected for this stock.
52-Weeks Trading Range: $13.12 - $24.81
Entry Point: $24.40
Stop Loss: $23.00
Target Pirce: $26.85
SUM closed at $24.18
