North American Construction Group (NYSE:NOA) Raised to Buy at Wall Street Zen

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

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

North American Construction Group Trading Down 0.2%

NYSE NOA opened at $13.80 on Friday. North American Construction Group has a one year low of $12.12 and a one year high of $22.08. The business’s fifty day moving average is $14.19 and its 200-day moving average is $14.66. The stock has a market capitalization of $401.30 million, a price-to-earnings ratio of 14.68 and a beta of 1.14. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.91 and a quick ratio of 0.73.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced 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). The firm had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $231.58 million. North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%. Equities research analysts predict that North American Construction Group will post 2.56 EPS for the current year.

Institutional Investors Weigh In On North American Construction Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in North American Construction Group by 20.5% during the third quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock valued at $38,409,000 after buying an additional 459,755 shares during the last quarter. Claret Asset Management Corp increased its stake in shares of North American Construction Group by 0.7% in the 2nd quarter. Claret Asset Management Corp now owns 2,064,325 shares of the oil and gas company’s stock worth $33,026,000 after purchasing an additional 14,686 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings in North American Construction Group by 70.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 1,740,985 shares of the oil and gas company’s stock worth $27,577,000 after purchasing an additional 718,884 shares during the period. CIBC Asset Management Inc lifted its position in North American Construction Group by 50.1% during the third quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock valued at $16,763,000 after purchasing an additional 393,679 shares in the last quarter. Finally, Aegis Financial Corp purchased a new position in North American Construction Group during the third quarter valued at $11,965,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

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.