North American Construction Group (NYSE:NOA) Upgraded at Zacks Research

Key Points

• North American Construction Group (NYSE:NOA) has been upgraded by Zacks Research from a "strong sell" rating to a "hold" rating, reflecting a shift in analysts' sentiment towards the stock.
• Various brokerages have recently updated their ratings on NOA, with multiple firms downgrading the stock to a "hold" rating, resulting in a consensus rating of "hold".
• Institutional investors are showing increased interest, with notable stakes growing significantly; for instance, Polar Asset Management Partners increased its holdings in NOA by 70.3%.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on NOA. Canaccord Genuity Group lowered North American Construction Group from a "buy" rating to a "hold" rating in a research report on Friday, July 11th. Atb Cap Markets lowered North American Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. CIBC lowered North American Construction Group to a "neutral" rating in a research report on Friday, August 15th. TD Securities lowered North American Construction Group from a "buy" rating to a "hold" rating in a research report 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 report on Friday, August 15th. Seven analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".

North American Construction Group Stock Up 1.6%

Shares of NYSE:NOA opened at $14.64 on Tuesday. The firm has a market cap of $428.95 million, a P/E ratio of 16.83 and a beta of 1.21. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. North American Construction Group has a 12-month low of $12.12 and a 12-month high of $22.08. The business has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $15.33.

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 (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.42). The company 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%. Analysts predict that North American Construction Group will post 2.56 earnings per share for the current year.

Institutional Trading of North American Construction Group

Several large investors have recently made changes to their positions in NOA. Polar Asset Management Partners Inc. grew its stake in shares of North American Construction Group by 70.3% in the 1st 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 period. TD Waterhouse Canada Inc. grew its stake in shares of North American Construction Group by 106,111.8% in the 2nd 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 period. Bank of America Corp DE grew its stake in shares of North American Construction Group by 80.7% in the 2nd 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 period. Bank of Montreal Can grew its stake in shares of North American Construction Group by 4.6% in the 2nd 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 period. Finally, Intact Investment Management Inc. grew its stake in shares of North American Construction Group by 31.2% in the 2nd quarter. Intact Investment Management Inc. now owns 233,600 shares of the oil and gas company's stock valued at $3,737,000 after buying an additional 55,600 shares during the period. 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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