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

Key Points

• ATB Cormark upgraded North American Construction Group from “sector perform” to “outperform” and set a C$23.50 price target, implying approximately 42.9% upside from the reported C$16.44 share price.
• Analyst sentiment remains positive overall: the stock has an average “Moderate Buy” rating and a consensus price target of C$22.64, although National Bank Financial recently reduced its target to C$28 from C$30 while maintaining an “outperform” rating.
• North American Construction Group reported quarterly earnings of C$0.32 per share on C$400.96 million in revenue, while an insider purchased 110,000 shares for about C$2.09 million.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA was upgraded by stock analysts at ATB Cormark Capital Markets from a "sector perform" rating to an "outperform" rating in a research note issued on Monday, BayStreet reports. The firm currently has a C$23.50 price objective on the stock. ATB Cormark Capital Markets's price objective would suggest a potential upside of 42.94% from the stock's current price.

Separately, National Bank Financial lowered their price objective on North American Construction Group from C$30.00 to C$28.00 and set an "outperform" rating on the stock in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, North American Construction Group has an average rating of "Moderate Buy" and an average price target of C$22.64.

North American Construction Group Price Performance

Shares of NOA stock traded up C$0.50 during mid-day trading on Monday, reaching C$16.44. The company's stock had a trading volume of 127,325 shares, compared to its average volume of 99,999. North American Construction Group has a 1-year low of C$15.40 and a 1-year high of C$23.49. The company has a market cap of C$442.47 million, a P/E ratio of 14.68, a PEG ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 246.95, a quick ratio of 0.79 and a current ratio of 1.07. The firm's 50-day moving average is C$17.72 and its two-hundred day moving average is C$18.87.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA last issued its earnings results on Wednesday, August 12th. The company reported C$0.32 earnings per share for the quarter. The business had revenue of C$400.96 million for the quarter. North American Construction Group had a net margin of 2.41% and a return on equity of 7.40%. On average, research analysts predict that North American Construction Group will post 4.06 earnings per share for the current year.

Insiders Place Their Bets

In other North American Construction Group news, insider North American Construction Group Ltd. acquired 110,000 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of C$19.01 per share, for a total transaction of C$2,091,100.00. Following the transaction, the insider owned 110,000 shares in the company, valued at C$2,091,100. This trade represents a ∞ increase in their position. 8.93% of the stock is owned by corporate insiders.

About North American Construction Group

North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

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