ATB Cormark Capital Markets Upgrades North American Construction Group (TSE:NOA) to “Outperform”

North American Construction Group (TSE:NOA) (NYSE:NOA) was upgraded by equities research analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, BayStreet reports. The brokerage presently has a C$23.50 price objective on the stock. ATB Cormark Capital Markets‘s price objective would suggest a potential upside of 42.94% from the company’s previous close.

Separately, National Bank Financial reduced their price objective on North American Construction Group from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$22.64.

North American Construction Group Price Performance

Shares of NOA stock traded up C$0.50 during trading hours on Monday, reaching C$16.44. 127,325 shares of the company were exchanged, compared to its average volume of 99,999. North American Construction Group has a fifty-two week low of C$15.40 and a fifty-two week high of C$23.49. The stock’s fifty day moving average is C$17.72 and its two-hundred day moving average is C$18.87. The company has a market cap of C$442.47 million, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 246.95, a current ratio of 1.07 and a quick ratio of 0.79.

North American Construction Group (TSE:NOA) (NYSE:NOA) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.32 earnings per share for the quarter. The business had revenue of C$400.96 million during the quarter. North American Construction Group had a net margin of 2.41% and a return on equity of 7.40%. Sell-side analysts forecast that North American Construction Group will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at North American Construction Group

In other North American Construction Group news, insider North American Construction Group Ltd. purchased 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average cost of C$19.01 per share, with a total value of C$2,091,100.00. Following the completion of the purchase, the insider directly owned 110,000 shares in the company, valued at approximately C$2,091,100. This represents a ∞ increase in their position. 8.93% of the stock is currently owned by company insiders.

About North American Construction Group

North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.