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

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

Several other equities research analysts also recently weighed in on NOA. Canaccord Genuity Group raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research report 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 report on Saturday, March 14th. Roth Mkm assumed coverage on shares of North American Construction Group in a report on Thursday, February 5th. They issued a “buy” rating and a $25.00 target price on the stock. BMO Capital Markets cut shares of North American Construction Group from an “outperform” rating to a “market perform” rating in a report on Thursday, March 12th. Finally, ATB Cormark Capital Markets cut shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.50.

North American Construction Group Price Performance

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

Institutional Investors Weigh In On North American Construction Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOA. Aegis Financial Corp bought a new position in North American Construction Group in the third quarter worth approximately $11,965,000. NewGen Asset Management Ltd bought a new position in North American Construction Group in the third quarter worth approximately $4,719,000. Intact Investment Management Inc. raised its position in North American Construction Group by 368.0% in the fourth quarter. Intact Investment Management Inc. now owns 117,000 shares of the oil and gas company’s stock worth $1,684,000 after acquiring an additional 92,000 shares during the period. CIBC Asset Management Inc raised its position in North American Construction Group by 50.1% in the third quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock worth $16,763,000 after acquiring an additional 393,679 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in North American Construction Group by 7.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 299,322 shares of the oil and gas company’s stock worth $4,025,000 after acquiring an additional 19,894 shares during the period. Hedge funds and other 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.