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

Key Points

• Zacks Research upgraded North American Construction Group to “Hold” from “Strong Sell,” aligning with the broader analyst consensus of “Hold.” The consensus average price target is $25.75.
• NOA shares opened at $13.67, with a market capitalization of approximately $381 million and a 12-month trading range of $12.07 to $17.26.
• The company met quarterly EPS expectations at $0.23 and reported revenue of $321.22 million, above analysts’ $246.65 million estimate. Institutional investors own nearly 75% of the outstanding shares.

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

NOA has been the subject of several other reports. ATB Cormark Capital Markets lowered North American Construction Group from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 28th. BMO Capital Markets restated a "market perform" rating on shares of North American Construction Group in a research note on Thursday, August 13th. Roth Capital reaffirmed a "buy" rating and issued a $27.50 target price on shares of North American Construction Group in a report on Friday, May 15th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of North American Construction Group in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of North American Construction Group in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.75.

North American Construction Group Stock Down 1.9%

Shares of NOA opened at $13.67 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 2.15. The company has a 50-day moving average price of $13.67 and a two-hundred day moving average price of $14.39. The stock has a market cap of $381.15 million, a price-to-earnings ratio of 17.31 and a beta of 1.06. North American Construction Group has a 12 month low of $12.07 and a 12 month high of $17.26.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last issued its earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. The business had revenue of $321.22 million during the quarter, compared to analysts' expectations of $246.65 million. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%. Equities analysts predict that North American Construction Group will post 1.6 EPS for the current fiscal year.

Institutional Trading of North American Construction Group

Several large investors have recently made changes to their positions in NOA. Bank of Montreal Can lifted its position in North American Construction Group by 3.1% during the 4th quarter. Bank of Montreal Can now owns 2,789,384 shares of the oil and gas company's stock worth $40,158,000 after buying an additional 84,992 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of North American Construction Group by 22.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company's stock worth $20,812,000 after acquiring an additional 262,673 shares during the last quarter. Aegis Financial Corp lifted its position in shares of North American Construction Group by 23.3% during the fourth quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company's stock worth $14,967,000 after purchasing an additional 196,243 shares in the last quarter. Cannell Capital LLC acquired a new position in shares of North American Construction Group during the second quarter worth approximately $10,423,090,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of North American Construction Group during the second quarter valued at approximately $8,029,000. Institutional investors own 74.99% of the company's stock.

North American Construction Group Company Profile

North American Construction Group Ltd NYSE: NOA is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source