North American Construction Group (NYSE:NOA) Stock Rating Lowered by Zacks Research

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on NOA. Roth Mkm reissued a “buy” rating and issued a $27.50 target price on shares of North American Construction Group in a research note on Friday, May 15th. ATB Cormark Capital Markets cut North American Construction Group from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen cut North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a research report on Tuesday, May 19th. Finally, Canaccord Genuity Group raised North American Construction Group from a “hold” rating to a “buy” rating in a research report on Friday, March 13th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Trading Down 5.2%

NYSE NOA opened at $13.27 on Tuesday. North American Construction Group has a 12 month low of $12.07 and a 12 month high of $18.15. The stock has a market cap of $371.18 million, a P/E ratio of 16.79 and a beta of 1.07. The stock’s fifty day moving average price is $14.25 and its 200-day moving average price is $14.66. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.80.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NOA. Jane Street Group LLC bought a new position in North American Construction Group in the first quarter valued at about $476,000. Geode Capital Management LLC lifted its holdings in North American Construction Group by 51.4% in the second quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company’s stock valued at $344,000 after acquiring an additional 7,300 shares during the period. Raymond James Financial Inc. bought a new position in North American Construction Group in the second quarter valued at about $122,000. Bank of America Corp DE lifted its holdings in North American Construction Group by 80.7% in the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock valued at $5,214,000 after acquiring an additional 145,745 shares during the period. Finally, SkyView Investment Advisors LLC lifted its holdings in North American Construction Group by 3.0% in the second quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock valued at $1,139,000 after acquiring an additional 2,040 shares during the period. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

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.