Loop Capital downgraded Summit Materials (SUM) to Hold from Buy with a price target of $52.50, down from $54, after the company agreed to be purchased by Quikrete for $52.50 per share. The firm views the logic of agreeing to the sale as reasonable and the price “as fair.”
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Read More on SUM:
- Summit Materials downgraded to Neutral from Buy at Longbow
- Summit Materials downgraded to Neutral from Buy at Citi
- Macy’s uncovers employee fraud, Summit to be acquired: Morning Buzz
- Summit Materials downgraded to Neutral from Overweight at JPMorgan
- Quikrete Acquires Rival Summit Materials (SUM) for $11.5 Billion