North American Construction Group (NYSE:NOA) Stock Rating Lowered by Wall Street Zen

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on NOA. Zacks Research upgraded shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Loop Capital set a $24.00 price target on North American Construction Group in a research report on Friday, December 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of North American Construction Group in a research report on Wednesday, October 8th. Finally, ATB Capital reissued a “sector perform” rating on shares of North American Construction Group in a report on Friday, December 19th. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, North American Construction Group currently has a consensus rating of “Hold” and an average target price of $24.00.

North American Construction Group Trading Up 1.0%

Shares of NOA opened at $15.16 on Friday. North American Construction Group has a fifty-two week low of $12.12 and a fifty-two week high of $21.73. The business has a 50-day moving average of $14.07 and a 200 day moving average of $14.46. The firm has a market cap of $439.65 million, a P/E ratio of 16.12 and a beta of 1.16. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.73 and a current ratio of 0.91.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its quarterly earnings data on Wednesday, November 12th. The oil and gas company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $231.58 million. North American Construction Group had a net margin of 3.02% and a return on equity of 13.29%. As a group, research analysts forecast that North American Construction Group will post 2.56 EPS for the current year.

Institutional Trading of North American Construction Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can grew its holdings in shares of North American Construction Group by 20.5% during the third quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock worth $38,409,000 after purchasing an additional 459,755 shares in the last quarter. Claret Asset Management Corp lifted its position in North American Construction Group by 0.7% during the second quarter. Claret Asset Management Corp now owns 2,064,325 shares of the oil and gas company’s stock valued at $33,026,000 after purchasing an additional 14,686 shares during the last quarter. CIBC Asset Management Inc grew its stake in North American Construction Group by 50.1% in the 3rd quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock worth $16,763,000 after buying an additional 393,679 shares in the last quarter. Aegis Financial Corp purchased a new position in North American Construction Group in the 3rd quarter worth approximately $11,965,000. Finally, American Century Companies Inc. increased its holdings in shares of North American Construction Group by 9.7% in the 2nd quarter. American Century Companies Inc. now owns 334,322 shares of the oil and gas company’s stock worth $5,350,000 after buying an additional 29,624 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

About North American Construction Group

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.