North American Construction Group (NYSE:NOA) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a report issued on Saturday morning.

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

North American Construction Group Price Performance

Shares of NOA opened at $15.16 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 1.59. The company’s fifty day simple moving average is $14.07 and its 200 day simple moving average is $14.48. North American Construction Group has a 1-year low of $12.12 and a 1-year high of $21.73. The company has a market cap of $440.71 million, a price-to-earnings ratio of 16.12 and a beta of 1.16.

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 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%.The firm had revenue of $280.90 million for the quarter, compared to analyst estimates of $231.58 million. On average, research analysts forecast that North American Construction Group will post 2.56 earnings per share for the current fiscal year.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, November 26th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.2%. North American Construction Group’s payout ratio is 36.17%.

Institutional Investors Weigh In On North American Construction Group

Several hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in North American Construction Group in the 3rd quarter valued at approximately $474,000. Qube Research & Technologies Ltd bought a new position in North American Construction Group during the 3rd quarter worth $153,000. Boothbay Fund Management LLC lifted its holdings in North American Construction Group by 16.3% during the 3rd quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock worth $237,000 after buying an additional 2,339 shares during the period. Lazard Asset Management LLC lifted its holdings in North American Construction Group by 1,424.1% during the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock worth $177,000 after buying an additional 11,635 shares during the period. Finally, NewGen Asset Management Ltd bought a new stake in shares of North American Construction Group in the 3rd quarter valued at about $4,719,000. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.