$SUM Construction increase boosts Summit Materials

NYSE:SUM   Summit Materials, Inc
Entry level $24 = Target price $29 = Stop loss $22.50.
Technically the chart is Bullish , but the fundamentals below maybe point to caution. The company has great exposure to the latest boost to construction spending, due to lower interest rates.
Short interest 13.51% (high)
P/E 133 (high)
Average analysts price target $22.46 | Overweight

Company profile
Summit Materials, Inc. is a construction materials company. 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, the Mountain states of 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. It company manufactures construction materials and related downstream products. The company was founded by Thomas W. Hill on September 23, 2014 and is headquartered in Denver, CO.

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