North American Construction Group (NYSE:NOA) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded North American Construction Group from “hold” to “buy,” although the broader analyst consensus remains “hold” with a $25.75 price target.
• NOA shares opened at $12.34, down 1.2%, and remain near their 12-month low of $12.07. The company reported quarterly earnings of $0.23 per share, in line with estimates, while revenue of $321.22 million exceeded expectations.
• Institutional investors own approximately 74.99% of the company, with several major funds recently increasing their positions or establishing new stakes.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets reiterated a "market perform" rating on shares of North American Construction Group in a research report on Thursday, August 13th. Weiss Ratings restated a "hold (c-)" rating on shares of North American Construction Group in a research report on Friday, September 4th. Zacks Research downgraded North American Construction Group from a "hold" rating to a "strong sell" rating in a research note 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 given a Sell rating to the stock. According to data from MarketBeat.com, North American Construction Group presently has a consensus rating of "Hold" and a consensus price target of $25.75.

North American Construction Group Stock Down 1.2%

Shares of NOA stock opened at $12.34 on Friday. North American Construction Group has a 12 month low of $12.07 and a 12 month high of $17.26. The stock has a market cap of $340.45 million, a P/E ratio of 15.61 and a beta of 1.07. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 2.15. The company has a 50 day simple moving average of $13.54 and a two-hundred day simple moving average of $13.82.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last issued 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 net margin of 2.41% and a return on equity of 6.23%. The business had revenue of $321.22 million for the quarter, compared to analysts' expectations of $246.65 million. On average, research analysts expect that North American Construction Group will post 0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NOA. CIBC Asset Management Inc grew its position in shares of North American Construction Group by 22.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company's stock worth $20,812,000 after purchasing an additional 262,673 shares in the last quarter. Aegis Financial Corp lifted its holdings in North American Construction Group by 23.3% in the 4th 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 in the last quarter. Cannell Capital LLC bought a new position in North American Construction Group in the 2nd quarter worth approximately $10,423,090. Connor Clark & Lunn Investment Management Ltd. bought a new position in North American Construction Group in the 2nd quarter worth approximately $8,029,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in North American Construction Group by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company's stock valued at $5,430,000 after buying an additional 158,731 shares in the last quarter. Institutional investors own 74.99% of the company's stock.

North American Construction Group Company Profile

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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