North American Construction Group (NYSE:NOA) Upgraded at ATB Cormark Capital Markets

Key Points

• ATB Cormark Capital Markets upgraded North American Construction Group from “hold” to “moderate buy,” though the broader analyst consensus remains “Hold” with a $25.75 target price.
• NOA shares opened at $11.89, near the lower end of their 12-month range of $10.85 to $17.26. The company has a $328.3 million market capitalization and a debt-to-equity ratio of 2.15.
• The company reported quarterly EPS of $0.23, in line with estimates, while revenue of $321.22 million exceeded the $246.65 million analyst forecast. Institutional investors own approximately 74.99% of the stock.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was upgraded by research analysts at ATB Cormark Capital Markets from a "hold" rating to a "moderate buy" rating in a report released on Monday, Zacks reports.

Other equities research analysts also recently issued research reports about the company. Zacks Research upgraded North American Construction Group from a "strong sell" rating to a "hold" rating in a research report on Friday, October 16th. BMO Capital Markets reaffirmed a "market perform" rating on shares of North American Construction Group in a report on Thursday, August 13th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of North American Construction Group in a research report on Thursday, July 9th. Wall Street Zen lowered North American Construction Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of North American Construction Group in a report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.75.

North American Construction Group Price Performance

Shares of NYSE:NOA opened at $11.89 on Monday. The firm has a market capitalization of $328.30 million, a PE ratio of 15.06 and a beta of 1.12. 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 has a 50-day moving average price of $12.62 and a two-hundred day moving average price of $14.02. North American Construction Group has a twelve month low of $10.85 and a twelve month 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 (EPS) for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $321.22 million for the quarter, compared to analyst estimates of $246.65 million. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. Equities analysts forecast that North American Construction Group will post 0.90 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NOA. TD Waterhouse Canada Inc. raised its position in shares of North American Construction Group by 4.5% in the third quarter. TD Waterhouse Canada Inc. now owns 344,109 shares of the oil and gas company's stock worth $4,176,000 after buying an additional 14,885 shares in the last quarter. WINTON GROUP Ltd purchased a new position in North American Construction Group during the second quarter worth about $144,000. Cannell Capital LLC purchased a new position in North American Construction Group during the second quarter worth about $10,423,090. Bank of America Corp DE purchased a new position in North American Construction Group during the second quarter worth about $3,045,000. Finally, PDT Partners LLC bought a new position in North American Construction Group in the 2nd quarter worth about $851,000. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

About North American Construction Group

North American Construction Group Inc is a Canadian heavy civil construction and contract mining company serving the resource and infrastructure sectors. The company provides large-scale earthmoving, site development, mine-support and construction services for customers primarily in western Canada.

Its services include contract mining, overburden removal, mine development, heavy civil construction, roadbuilding, reclamation and site preparation. North American Construction Group also provides equipment maintenance, repair and rebuild services, and operates a large fleet of heavy construction and mining equipment to support its projects.

Founded in 1953, the company has developed long-standing expertise in the Canadian oil sands and other resource projects.

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