North American Construction Group (NYSE:NOA) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• North American Construction Group's stock has been reissued a "hold (c)" rating by Weiss Ratings, alongside numerous downgrades from several other analysts.
• The company reported a 0.24 EPS for the last quarter, significantly missing the consensus estimate of 0.66 EPS, although revenue fell slightly above expectations.
• Hedge fund investments have increased, with notable growth in shares held by Polar Asset Management and TD Waterhouse, indicating a strong institutional interest in the company.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA's stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on NOA. Canaccord Genuity Group downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 11th. Cibc World Mkts downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Zacks Research downgraded shares of North American Construction Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Atb Cap Markets downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, CIBC downgraded shares of North American Construction Group to a "neutral" rating in a research note on Friday, August 15th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce".

North American Construction Group Price Performance

NYSE:NOA traded down $0.16 on Wednesday, hitting $14.36. The company had a trading volume of 7,571 shares, compared to its average volume of 93,304. The stock has a market capitalization of $433.23 million, a price-to-earnings ratio of 16.57 and a beta of 1.21. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.57. The firm has a 50 day moving average of $14.03 and a two-hundred day moving average of $15.41. 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 issued its quarterly earnings data on Wednesday, August 13th. The oil and gas company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.42). The company had revenue of $235.51 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that North American Construction Group will post 2.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NOA. Polar Asset Management Partners Inc. grew its holdings in shares of North American Construction Group by 70.3% during the first quarter. Polar Asset Management Partners Inc. now owns 1,740,985 shares of the oil and gas company's stock valued at $27,577,000 after buying an additional 718,884 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of North American Construction Group by 106,111.8% during the second quarter. TD Waterhouse Canada Inc. now owns 278,275 shares of the oil and gas company's stock valued at $4,463,000 after buying an additional 278,013 shares during the last quarter. NewGen Asset Management Ltd acquired a new position in shares of North American Construction Group during the first quarter valued at about $2,368,000. Bank of America Corp DE grew its holdings in shares of North American Construction Group by 80.7% during the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company's stock valued at $5,214,000 after buying an additional 145,745 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of North American Construction Group by 4.6% during the second quarter. Bank of Montreal Can now owns 2,244,637 shares of the oil and gas company's stock valued at $35,941,000 after buying an additional 98,646 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.

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