North American Construction Group (NYSE:NOA) Downgraded to "Strong Sell" Rating by 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 investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on NOA. TD Securities lowered North American Construction Group from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Canaccord Genuity Group downgraded North American Construction Group from a "buy" rating to a "hold" rating in a report on Friday, July 11th. Wall Street Zen upgraded North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Cibc World Mkts downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, CIBC cut shares of North American Construction Group to a "neutral" rating in a research note on Friday, August 15th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce".

North American Construction Group Stock Up 0.6%

Shares of NOA stock traded up $0.08 during mid-day trading on Tuesday, reaching $13.69. 87,527 shares of the company were exchanged, compared to its average volume of 200,967. The business's 50 day simple moving average is $15.20 and its 200 day simple moving average is $16.06. North American Construction Group has a fifty-two week low of $12.12 and a fifty-two week high of $22.08. The company has a market capitalization of $413.12 million, a P/E ratio of 15.74 and a beta of 1.23. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.75 and a current ratio of 0.94.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NOA. National Bank of Canada FI lifted its stake in shares of North American Construction Group by 2.6% in the first quarter. National Bank of Canada FI now owns 1,368,520 shares of the oil and gas company's stock worth $21,560,000 after acquiring an additional 34,720 shares during the period. 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 valued at $14,184,000 after acquiring an additional 34,086 shares during the last quarter. 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 valued at $1,303,000 after acquiring an additional 25,889 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in North American Construction Group during the fourth quarter valued at $295,000. Finally, NewGen Asset Management Ltd purchased a new stake in North American Construction Group during the first quarter valued at about $2,368,000. Institutional investors and hedge funds own 74.99% of the company's stock.

North American Construction Group Company Profile

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.