North American Construction Group (NYSE:NOA) Stock Rating Lowered by Wall Street Zen

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

A number of other equities research analysts have also commented on NOA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of North American Construction Group in a research report on Friday, September 4th. BMO Capital Markets reissued a “market perform” rating on shares of North American Construction Group in a research note on Thursday, August 13th. Zacks Research lowered North American Construction Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.75.

North American Construction Group Stock Up 0.2%

Shares of NYSE:NOA opened at $11.82 on Friday. The company has a 50 day moving average price of $13.22 and a two-hundred day moving average price of $13.67. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.90 and a current ratio of 1.07. The company has a market capitalization of $326.20 million, a PE ratio of 14.96 and a beta of 1.12. North American Construction Group has a 52 week low of $11.72 and a 52 week high of $17.26.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. The company had revenue of $321.22 million for the quarter, compared to analysts’ expectations of $246.65 million. Analysts forecast that North American Construction Group will post 0.90 earnings per share for the current year.

Institutional Investors Weigh In On North American Construction Group

Hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd bought a new stake in North American Construction Group in the second quarter valued at approximately $144,000. Morgan Dempsey Capital Management LLC bought a new position in shares of North American Construction Group during the 1st quarter worth approximately $257,000. Cibc World Market Inc. acquired a new position in shares of North American Construction Group during the 2nd quarter worth approximately $278,000. Sanctuary Advisors LLC acquired a new position in shares of North American Construction Group during the 1st quarter worth approximately $612,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of North American Construction Group during the 2nd quarter worth approximately $725,000. 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. is a Canadian heavy civil construction and mining services company that supports resource development and infrastructure projects. Its operations are concentrated primarily in Western Canada, particularly Alberta’s oil sands region, where it provides services to major mine owners and other industrial customers.

The company’s services include mine development and operations, overburden removal, earthmoving, road construction, site preparation, reclamation and other large-scale civil construction activities.