North American Construction Group (NYSE:NOA) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded North American Construction Group from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with a $25.75 average price target.
• NOA opened at $12.86 and remains near the lower end of its 12-month range of $12.07 to $17.26; the company has a $356.43 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 $321.22 million in revenue, exceeding analyst estimates of $246.65 million. Institutional investors own approximately 74.99% of the stock.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday, Zacks reports.

NOA has been the subject of several other reports. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of North American Construction Group in a research report on Thursday, July 9th. BMO Capital Markets restated a "market perform" rating on shares of North American Construction Group in a research note on Thursday, August 13th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of North American Construction Group in a research report on Friday, September 4th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.75.

North American Construction Group Stock Performance

NYSE NOA opened at $12.86 on Tuesday. The firm has a market cap of $356.43 million, a P/E ratio of 16.28 and a beta of 1.07. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 2.15. The company's 50 day moving average is $13.67 and its 200-day moving average is $14.01. North American Construction Group has a 12-month low of $12.07 and a 12-month high of $17.26.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last released its quarterly earnings data on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, meeting 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 business had revenue of $321.22 million during the quarter, compared to analyst estimates of $246.65 million. Sell-side analysts predict that North American Construction Group will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On North American Construction Group

Several large investors have recently added to or reduced their stakes in NOA. CIBC Asset Management Inc raised its holdings in shares of North American Construction Group by 22.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company's stock valued at $20,812,000 after acquiring an additional 262,673 shares in the last quarter. Aegis Financial Corp increased its position in shares of North American Construction Group by 23.3% in the fourth quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company's stock worth $14,967,000 after purchasing an additional 196,243 shares during the last quarter. Cannell Capital LLC purchased a new stake in North American Construction Group in the second quarter valued at approximately $10,423,090. Connor Clark & Lunn Investment Management Ltd. bought a new stake in North American Construction Group during the second quarter valued at approximately $8,029,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in North American Construction Group by 65.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company's stock worth $5,430,000 after buying an additional 158,731 shares in the last quarter. Institutional investors own 74.99% of the company's stock.

About North American Construction Group

North American Construction Group Ltd. is a Canadian heavy construction and mining services company headquartered in Acheson, Alberta. The company provides equipment-intensive services to resource and infrastructure customers, with a particular focus on large-scale earthworks and mine development.

Its services include contract mining, mine-site development and reclamation, heavy civil construction, site preparation, road building, overburden removal, materials handling, crushing and aggregate production, and equipment rental and maintenance.

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