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

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on NOA. ATB Cormark Capital Markets downgraded shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Canaccord Genuity Group raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. Wall Street Zen downgraded shares of North American Construction Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. BMO Capital Markets downgraded shares of North American Construction Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 12th. Finally, Roth Mkm initiated coverage on shares of North American Construction Group in a research note on Thursday, February 5th. They issued a “buy” rating and a $25.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.50.

North American Construction Group Price Performance

NOA stock opened at $14.57 on Monday. North American Construction Group has a 1 year low of $12.07 and a 1 year high of $18.24. The company has a market cap of $414.08 million, a P/E ratio of 18.21 and a beta of 1.11. The firm has a 50-day moving average of $14.41 and a 200 day moving average of $14.67. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.70.

Hedge Funds Weigh In On North American Construction Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of North American Construction Group by 35.6% during the first quarter. Dimensional Fund Advisors LP now owns 200,248 shares of the oil and gas company’s stock valued at $2,699,000 after purchasing an additional 52,605 shares in the last quarter. Morgan Dempsey Capital Management LLC bought a new position in shares of North American Construction Group during the first quarter valued at approximately $257,000. Sanctuary Advisors LLC purchased a new stake in shares of North American Construction Group during the first quarter valued at approximately $612,000. Hsbc Holdings PLC bought a new stake in shares of North American Construction Group during the fourth quarter valued at approximately $235,000. Finally, Mackenzie Financial Corp increased its position in shares of North American Construction Group by 63.0% during the fourth quarter. Mackenzie Financial Corp now owns 25,836 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 9,981 shares in the last quarter. 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.