North American Construction Group (NYSE:NOA) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded North American Construction Group from “Buy” to “Hold.” The broader analyst consensus is also “Hold,” with two Buy, four Hold and one Sell rating, and an average price target of $25.75.
• NOA shares opened at $11.82, near their 52-week low of $11.72 and below both their 50-day ($13.22) and 200-day ($13.67) moving averages. The company has a $326.2 million market capitalization and a debt-to-equity ratio of 2.15.
• The company met quarterly earnings expectations at $0.23 per share and reported revenue of $321.22 million, above estimates of $246.65 million. Institutional investors own approximately 74.99% of its stock.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

NOA has been the topic of a number of other reports. Weiss Ratings restated a "hold (c-)" rating on shares of North American Construction Group in a report on Friday, September 4th. BMO Capital Markets reiterated a "market perform" rating on shares of North American Construction Group in a research note on Thursday, August 13th. Zacks Research downgraded shares of North American Construction Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 15th. Finally, Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of North American Construction Group in a research note on Thursday, July 9th. Two equities research 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.75.

North American Construction Group Stock Performance

Shares of NYSE NOA opened at $11.82 on Friday. 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 stock has a 50 day moving average price of $13.22 and a 200 day moving average price of $13.67. The stock 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 - Get Free Report) TSE: NOA last posted its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%. The firm had revenue of $321.22 million for the quarter, compared to analyst estimates of $246.65 million. Analysts predict that North American Construction Group will post 0.90 earnings per share for the current fiscal year.

Institutional Investors Weigh In On North American Construction Group

Several hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in North American Construction Group during the second quarter worth $144,000. TD Waterhouse Canada Inc. raised its position in shares of North American Construction Group by 1.1% in the second quarter. TD Waterhouse Canada Inc. now owns 329,224 shares of the oil and gas company's stock valued at $4,253,000 after purchasing an additional 3,737 shares during the period. Cannell Capital LLC bought a new position in shares of North American Construction Group in the second quarter valued at about $10,423,090. Bank of America Corp DE bought a new stake in shares of North American Construction Group during the 2nd quarter worth about $3,045,000. Finally, PDT Partners LLC acquired a new stake in North American Construction Group during the second quarter worth approximately $851,000. Institutional investors and hedge funds own 74.99% of the company's stock.

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.

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