ATB Cormark Capital Markets Downgrades North American Construction Group (NYSE:NOA) to Hold

Key Points

• ATB Cormark downgraded North American Construction Group (NYSE: NOA) from a “moderate buy” to a “hold”, and the analyst consensus is an average Hold with an average target price of $24.50.
• NOA opened at $14.51 with a market capitalization of $412.37 million, a P/E of 18.14, and is trading near its 50- and 200-day moving averages (~$14.7) within a 12-month range of $12.07–$18.24.
• Institutional investors own about 74.99% of the stock, and several funds (e.g., SkyView, TD, Lazard, Boothbay) modestly increased their positions in recent quarters.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was downgraded by stock analysts at ATB Cormark Capital Markets from a "moderate buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on NOA. BMO Capital Markets lowered North American Construction Group from an "outperform" rating to a "market perform" rating in a report on Thursday, March 12th. Zacks Research downgraded North American Construction Group from a "hold" rating to a "strong sell" rating in a research report on Monday, February 2nd. Wall Street Zen downgraded North American Construction Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Roth Mkm started coverage on North American Construction Group in a research report on Thursday, February 5th. They issued a "buy" rating and a $25.00 price objective for the company. Finally, Canaccord Genuity Group upgraded North American Construction Group from a "hold" rating to a "buy" rating in a research report on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.50.

North American Construction Group Stock Performance

NOA opened at $14.51 on Tuesday. The firm has a market capitalization of $412.37 million, a P/E ratio of 18.14 and a beta of 1.20. The stock's 50 day moving average price is $14.71 and its two-hundred day moving average price is $14.67. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 1.64. North American Construction Group has a 12-month low of $12.07 and a 12-month high of $18.24.

Hedge Funds Weigh In On North American Construction Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. SkyView Investment Advisors LLC raised its position in North American Construction Group by 1.3% in the 4th quarter. SkyView Investment Advisors LLC now owns 73,616 shares of the oil and gas company's stock valued at $1,058,000 after purchasing an additional 955 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in North American Construction Group by 0.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 279,428 shares of the oil and gas company's stock valued at $4,074,000 after purchasing an additional 1,153 shares during the last quarter. TD Asset Management Inc raised its position in North American Construction Group by 3.5% in the 4th quarter. TD Asset Management Inc now owns 34,555 shares of the oil and gas company's stock valued at $498,000 after purchasing an additional 1,178 shares during the last quarter. Boothbay Fund Management LLC raised its position in North American Construction Group by 16.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company's stock valued at $237,000 after purchasing an additional 2,339 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in North American Construction Group by 29.9% in the 4th quarter. Lazard Asset Management LLC now owns 16,170 shares of the oil and gas company's stock valued at $232,000 after purchasing an additional 3,718 shares during the last quarter. Institutional investors own 74.99% of the company's stock.

North American Construction Group Company Profile

North American Construction Group Ltd NYSE: NOA is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.

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