National Bank Financial Issues Pessimistic Forecast for North American Construction Group (TSE:NOA) Stock Price

Key Points

• National Bank Financial cut its price target for North American Construction Group from C$30 to C$28, while maintaining an “outperform” rating. The revised target still implies about 46% upside from the stock’s C$19.16 price.
• NOA shares fell 4.3% in Friday trading, with the stock positioned near its 50-day moving average and below its 200-day average. Analysts collectively rate the company “Moderate Buy,” with an average target price of C$22.71.
• Insiders have been buying shares: insiders purchased 295,000 shares worth approximately C$5.6 million over the past three months, and corporate insiders own 8.93% of the company.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA had its price objective dropped by equities researchers at National Bank Financial from C$30.00 to C$28.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's target price indicates a potential upside of 46.14% from the company's current price.

Several other brokerages have also weighed in on NOA. ATB Cormark Capital Markets increased their price objective on shares of North American Construction Group from C$21.00 to C$24.00 and gave the stock a "sector perform" rating in a report on Thursday, May 14th. BMO Capital Markets upped their price target on shares of North American Construction Group from C$21.00 to C$22.00 and gave the stock a "market perform" rating in a research report on Thursday, May 14th. Finally, Raymond James Financial lifted their price target on shares of North American Construction Group from C$24.00 to C$26.00 in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, North American Construction Group currently has an average rating of "Moderate Buy" and an average target price of C$22.71.

North American Construction Group Trading Down 4.3%

North American Construction Group stock traded down C$0.86 during trading on Friday, hitting C$19.16. The company's stock had a trading volume of 180,245 shares, compared to its average volume of 102,421. The stock has a market capitalization of C$519.29 million, a price-to-earnings ratio of 17.11, a P/E/G ratio of 0.79 and a beta of 0.83. The stock's fifty day moving average is C$19.27 and its 200 day moving average is C$19.94. North American Construction Group has a 1-year low of C$16.45 and a 1-year high of C$23.49. The company has a debt-to-equity ratio of 202.48, a quick ratio of 0.79 and a current ratio of 1.11.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.32 earnings per share (EPS) for the quarter. The firm had revenue of C$400.96 million for the quarter. North American Construction Group had a return on equity of 7.69% and a net margin of 2.63%. As a group, equities research analysts predict that North American Construction Group will post 4.0597484 EPS for the current year.

Insider Buying and Selling

In other North American Construction Group news, Director Martin Robert Ferron purchased 5,000 shares of North American Construction Group stock in a transaction on Thursday, July 2nd. The shares were purchased at an average cost of C$17.76 per share, with a total value of C$88,800.00. Following the completion of the transaction, the director directly owned 2,300,738 shares in the company, valued at approximately C$40,861,106.88. This represents a 0.22% increase in their position. Also, insider North American Construction Group Ltd. acquired 110,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of C$19.01 per share, with a total value of C$2,091,100.00. Following the completion of the purchase, the insider owned 110,000 shares of the company's stock, valued at C$2,091,100. This trade represents a ∞ increase in their ownership of the stock. In the last three months, insiders have purchased 295,000 shares of company stock valued at $5,634,750. Corporate insiders own 8.93% of the company's stock.

North American Construction Group Company Profile

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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