Shares of Summit Materials Inc. (NYSE:SUM) traded today at $24.25, eclipsing its 52-week high. Approximately 232,000 shares have changed hands today, as compared to an average 30-day volume of 730,000 shares.
In the past 52 weeks, Summit Materials Inc. share prices are bracketed by a low of $11.25 and a high of $24.25 and is now at $23.86, 112% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.8%.
Summit Materials, Inc. manufactures cement and concrete products. The Company produces cement and ready mix products which includes blocks, pipes, bricks, walls, and girders. Summit Materials serves customers in the United States.
There is potential upside of 56.8% for shares of Summit Materials Inc. based on a current price of $23.86 and an average consensus analyst price target of $37.40. The stock should find initial support at its 50-day moving average (MA) of $21.69 and further support at its 200-day MA of $17.94.
NetworkNewsWire is monitoring the Construction Materials Industry for any potential shift so investors can protect gains.
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness.
NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com