North American Construction Group (NYSE:NOA) Upgraded by Wall Street Zen to “Buy” Rating

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 report issued on Saturday.

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

North American Construction Group Stock Performance

Shares of North American Construction Group stock opened at $15.16 on Friday. The company has a market capitalization of $439.68 million, a PE ratio of 16.12 and a beta of 1.16. The company has a 50-day simple moving average of $14.36 and a two-hundred day simple moving average of $14.43. North American Construction Group has a one year low of $12.12 and a one year high of $20.54. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.73 and a current ratio of 0.91.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its quarterly earnings results on Wednesday, November 12th. The oil and gas company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $280.90 million during the quarter, compared to the consensus estimate of $231.58 million. North American Construction Group had a net margin of 3.02% and a return on equity of 13.29%. Research analysts expect that North American Construction Group will post 2.56 EPS for the current fiscal year.

Institutional Trading of North American Construction Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its position 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 acquiring an additional 459,755 shares in the last quarter. Claret Asset Management Corp grew its stake in shares of North American Construction Group by 0.7% during 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 during the period. CIBC Asset Management Inc increased its holdings in shares of North American Construction Group by 50.1% during the 3rd 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. Aegis Financial Corp purchased a new position in shares of North American Construction Group during the 3rd quarter valued at approximately $11,965,000. Finally, American Century Companies Inc. lifted its stake in shares of North American Construction Group by 9.7% in the 2nd quarter. American Century Companies Inc. now owns 334,322 shares of the oil and gas company’s stock valued at $5,350,000 after purchasing an additional 29,624 shares during the period. 74.99% of the stock is 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.