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

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

NOA has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Roth Capital reissued a “buy” rating and issued a $27.50 price objective on shares of North American Construction Group in a report 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. BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a research note on Thursday, August 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Stock Down 1.9%

NOA opened at $13.67 on Monday. The company has a fifty day moving average of $13.67 and a two-hundred day moving average of $14.39. The stock has a market capitalization of $381.15 million, a price-to-earnings ratio of 17.31 and a beta of 1.06. North American Construction Group has a fifty-two week low of $12.07 and a fifty-two week high of $17.26. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.90 and a current ratio of 1.07.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. The business had revenue of $321.22 million for the quarter, compared to analyst estimates of $246.65 million. On average, research analysts expect that North American Construction Group will post 1.6 earnings per share for the current year.

Institutional Investors Weigh In On North American Construction Group

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its stake in North American Construction Group by 3.1% during the 4th quarter. Bank of Montreal Can now owns 2,789,384 shares of the oil and gas company’s stock worth $40,158,000 after buying an additional 84,992 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of North American Construction Group by 22.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock valued at $20,812,000 after acquiring an additional 262,673 shares in the last quarter. Aegis Financial Corp lifted its position in shares of North American Construction Group by 23.3% in the fourth quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company’s stock valued at $14,967,000 after acquiring an additional 196,243 shares in the last quarter. Cannell Capital LLC acquired a new stake in shares of North American Construction Group in the second quarter worth approximately $10,423,090,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of North American Construction Group in the second quarter worth approximately $8,029,000. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.