Atb Cap Markets Downgrades North American Construction Group (NYSE:NOA) to Hold

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 equities researchers at Atb Cap Markets from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on NOA. Wall Street Zen raised shares of North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Canaccord Genuity Group lowered shares of North American Construction Group from a "buy" rating to a "hold" rating in a research report on Friday, July 11th. Raymond James Financial lowered shares of North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, April 22nd. Finally, TD Securities lowered shares of North American Construction Group from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".

North American Construction Group Stock Performance

Shares of NOA stock traded up $0.5010 on Thursday, reaching $12.8710. The stock had a trading volume of 78,000 shares, compared to its average volume of 88,359. 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 firm's 50-day moving average is $15.91 and its two-hundred day moving average is $16.38. The firm has a market capitalization of $388.41 million, a price-to-earnings ratio of 14.84 and a beta of 1.26. North American Construction Group has a 12 month low of $12.12 and a 12 month high of $22.08.

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

Institutional Investors Weigh In On North American Construction Group

A number of hedge funds and other institutional investors have recently bought and sold shares of NOA. JPMorgan Chase & Co. grew its position in North American Construction Group by 7,381.9% during the 4th quarter. JPMorgan Chase & Co. now owns 21,024 shares of the oil and gas company's stock worth $454,000 after acquiring an additional 20,743 shares during the last quarter. Envestnet Asset Management Inc. grew its position in North American Construction Group by 2.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 55,263 shares of the oil and gas company's stock worth $1,194,000 after acquiring an additional 1,085 shares during the last quarter. Russell Investments Group Ltd. grew its position in North American Construction Group by 284.3% during the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock worth $171,000 after acquiring an additional 5,884 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of North American Construction Group by 35.5% during the fourth quarter. Legal & General Group Plc now owns 22,919 shares of the oil and gas company's stock worth $494,000 after purchasing an additional 6,008 shares during the period. Finally, Claret Asset Management Corp lifted its holdings in shares of North American Construction Group by 1.7% during the fourth quarter. Claret Asset Management Corp now owns 2,040,138 shares of the oil and gas company's stock worth $43,945,000 after purchasing an additional 33,881 shares during the period. Institutional investors 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.