TD Securities Raises North American Construction Group (NYSE:NOA) Price Target to C$18.00

North American Construction Group (NYSE:NOA) (TSE:NOA) had its price objective hoisted by investment analysts at TD Securities from C$17.00 to C$18.00 in a report issued on Friday, The Fly reports. The firm currently has a “hold” rating on the oil and gas company’s stock.

Several other brokerages have also weighed in on NOA. Raymond James boosted their price objective on North American Construction Group from C$19.00 to C$20.00 and gave the company an “outperform” rating in a report on Thursday. TheStreet raised shares of North American Construction Group from a “c+” rating to a “b-” rating in a research report on Monday, May 17th. Zacks Investment Research lowered North American Construction Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 9th. BMO Capital Markets upped their price objective on North American Construction Group from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 2nd. Finally, Canaccord Genuity increased their price objective on shares of North American Construction Group from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, February 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.44.

NYSE NOA traded up $0.78 during mid-day trading on Friday, reaching $14.93. 2,718 shares of the company’s stock traded hands, compared to its average volume of 69,917. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.37. North American Construction Group has a 1-year low of $5.58 and a 1-year high of $14.48. The firm’s fifty day simple moving average is $12.72. The stock has a market capitalization of $446.60 million, a P/E ratio of 12.29 and a beta of 1.46.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results on Wednesday, April 28th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.25. North American Construction Group had a net margin of 10.49% and a return on equity of 20.78%. The business had revenue of $132.99 million during the quarter, compared to analyst estimates of $138.15 million. Equities analysts expect that North American Construction Group will post 1.43 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new stake in shares of North American Construction Group in the 4th quarter valued at approximately $138,000. Toronto Dominion Bank grew its holdings in shares of North American Construction Group by 4,341.7% during the fourth quarter. Toronto Dominion Bank now owns 13,858 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 13,546 shares in the last quarter. CIBC World Markets Inc. lifted its stake in North American Construction Group by 1,119.6% in the 4th quarter. CIBC World Markets Inc. now owns 307,723 shares of the oil and gas company’s stock worth $3,040,000 after acquiring an additional 282,492 shares in the last quarter. Fiera Capital Corp acquired a new stake in North American Construction Group during the 4th quarter worth about $6,620,000. Finally, Mackenzie Financial Corp purchased a new position in North American Construction Group during the 4th quarter valued at about $309,000. Institutional investors own 45.64% of the company’s stock.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy construction services to the resource development and industrial construction sectors in Canada and the United States The company's Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services.

Featured Article: Are we seeing the beginning of a new bubble?

The Fly logo

Analyst Recommendations for North American Construction Group (NYSE:NOA)

Receive News & Ratings for North American Construction Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for North American Construction Group and related companies with MarketBeat.com's FREE daily email newsletter.