North American Construction Group (NYSE:NOA) Rating Lowered to Strong Sell at Zacks Research

Key Points

• North American Construction Group's stock rating has been downgraded from "hold" to a "strong sell" by Zacks Research.
• Several brokerages have altered their ratings on the company, with ATB Capital Markets and TD Securities also reducing their ratings to "hold".
• The company reported a missed earnings per share of $0.24, falling short of the consensus estimate of $0.66 for the recent quarter.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday, August 26th,Zacks.com reports.

A number of other brokerages have also weighed in on NOA. Wall Street Zen upgraded shares of North American Construction Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. CIBC lowered North American Construction Group to a "neutral" rating in a research note on Friday, August 15th. Canaccord Genuity Group lowered North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 11th. Atb Cap Markets lowered North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Cibc World Mkts lowered North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce".

North American Construction Group Stock Performance

NOA traded down $0.13 during mid-day trading on Tuesday, reaching $13.54. 37,513 shares of the company traded hands, compared to its average volume of 89,974. The stock has a market capitalization of $408.61 million, a P/E ratio of 15.56 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. The company's fifty day moving average price is $15.14 and its 200-day moving average price is $16.02. North American Construction Group has a 52-week low of $12.12 and a 52-week high of $22.08.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last announced its earnings results on Wednesday, August 13th. The oil and gas company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.42). The company had revenue of $235.51 million for the quarter, compared to analysts' expectations of $231.51 million. North American Construction Group had a net margin of 2.82% and a return on equity of 17.15%. On average, sell-side analysts expect that North American Construction Group will post 2.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its holdings in shares of North American Construction Group by 2.6% in the 1st quarter. National Bank of Canada FI now owns 1,368,520 shares of the oil and gas company's stock valued at $21,560,000 after acquiring an additional 34,720 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of North American Construction Group by 3.9% during the first quarter. Mackenzie Financial Corp now owns 899,609 shares of the oil and gas company's stock worth $14,184,000 after acquiring an additional 34,086 shares during the period. Millennium Management LLC increased its position in shares of North American Construction Group by 75.3% during the fourth quarter. Millennium Management LLC now owns 60,274 shares of the oil and gas company's stock worth $1,303,000 after acquiring an additional 25,889 shares during the period. American Century Companies Inc. increased its holdings in North American Construction Group by 20.8% during the first quarter. American Century Companies Inc. now owns 304,698 shares of the oil and gas company's stock valued at $4,804,000 after buying an additional 52,474 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in North American Construction Group during the fourth quarter valued at approximately $295,000. Institutional investors own 74.99% of the company's stock.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments.