North American Construction Group (NYSE:NOA) Cut to Market Perform at BMO Capital Markets

Key Points

• BMO Capital Markets downgraded North American Construction Group from "outperform" to "market perform," signaling more tempered near‑term expectations for the stock.
• In its latest quarter (reported Mar 11), NOA posted an EPS miss of ($0.16) versus consensus $0.50 (a $0.66 shortfall) while beating revenue estimates with $250.51 million versus $222.43 million expected.
• Analysts are broadly cautious—one Buy, six Hold, one Sell—giving an average rating of "Hold" and an average price target of $24.50, while the stock trades around $16.79 with a market cap of about $483 million.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was downgraded by stock analysts at BMO Capital Markets from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Thursday.

NOA has been the subject of several other research reports. Roth Mkm initiated coverage on North American Construction Group in a research note on Thursday, February 5th. They issued a "buy" rating and a $25.00 price objective for the company. Loop Capital set a $24.00 target price on shares of North American Construction Group in a report on Friday, December 19th. Wall Street Zen upgraded shares of North American Construction Group from a "hold" rating to a "buy" rating in a research report on Saturday, January 24th. ATB Cormark Capital Markets reiterated a "sector perform" rating on shares of North American Construction Group in a report on Friday, December 19th. Finally, Zacks Research cut shares of North American Construction Group from a "hold" rating to a "strong sell" rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, North American Construction Group currently has an average rating of "Hold" and an average price target of $24.50.

North American Construction Group Price Performance

NOA stock opened at $16.79 on Thursday. The stock has a market cap of $482.83 million, a price-to-earnings ratio of 17.87 and a beta of 1.09. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.91 and a quick ratio of 0.73. The company has a 50 day simple moving average of $15.78 and a 200 day simple moving average of $14.66. North American Construction Group has a 1 year low of $12.12 and a 1 year high of $18.24.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last posted its earnings results on Wednesday, March 11th. The oil and gas company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.66). The company had revenue of $250.51 million for the quarter, compared to the consensus estimate of $222.43 million. North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%. Research analysts anticipate that North American Construction Group will post 2.56 EPS for the current fiscal year.

Institutional Investors Weigh In On North American Construction Group

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in North American Construction Group during the second quarter worth $122,000. Highlander Partners L.P. acquired a new stake in North American Construction Group during the 4th quarter worth about $132,000. Qube Research & Technologies Ltd bought a new position in shares of North American Construction Group in the 3rd quarter worth about $153,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of North American Construction Group in the 4th quarter valued at about $165,000. Finally, Lazard Asset Management LLC lifted its stake in shares of North American Construction Group by 1,424.1% in the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company's stock valued at $177,000 after purchasing an additional 11,635 shares during the period. 74.99% of the stock is owned by institutional investors.

About North American Construction Group

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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