North American Construction Group (NYSE:NOA) Lowered to "Hold" Rating by Atb Cap Markets

Key Points

• Atb Cap Markets has downgraded North American Construction Group's stock from a "strong-buy" to a "hold" rating, highlighting a shift in analyst sentiment.
• North American Construction Group reported $0.24 earnings per share for the last quarter, which fell short of analysts' expectations by ($0.42) per share.
• Institutional investors own approximately 74.99% of North American Construction Group's stock, indicating strong support from large shareholders despite recent downgrades.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was downgraded by Atb Cap Markets from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts also recently weighed in on NOA. TD Securities downgraded North American Construction Group from a "buy" rating to a "hold" rating in a research note on Thursday. Wall Street Zen upgraded North American Construction Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Raymond James Financial downgraded North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Finally, Canaccord Genuity Group downgraded North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 11th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, North American Construction Group presently has a consensus rating of "Hold".

North American Construction Group Stock Down 4.5%

Shares of NYSE NOA traded down $0.58 during mid-day trading on Thursday, reaching $12.32. 269,006 shares of the company's stock were exchanged, compared to its average volume of 139,471. The firm has a market capitalization of $371.82 million, a price-to-earnings ratio of 14.16 and a beta of 1.26. 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 business has a fifty day simple moving average of $16.13 and a 200 day simple moving average of $16.46. North American Construction Group has a twelve month low of $12.23 and a twelve month high of $22.08.

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

Hedge Funds Weigh In On North American Construction Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in North American Construction Group in the 2nd quarter valued at $122,000. Public Employees Retirement System of Ohio raised its holdings in North American Construction Group by 16.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,307 shares of the oil and gas company's stock valued at $165,000 after acquiring an additional 1,474 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in North American Construction Group by 284.3% in the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock valued at $171,000 after acquiring an additional 5,884 shares in the last quarter. Quadrature Capital Ltd acquired a new position in North American Construction Group in the 2nd quarter valued at $182,000. Finally, Tranquility Partners LLC raised its holdings in North American Construction Group by 4.4% in the 1st quarter. Tranquility Partners LLC now owns 15,584 shares of the oil and gas company's stock valued at $246,000 after acquiring an additional 658 shares in the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

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.