North American Construction Group (TSE:NOA) Cut to Hold at Atb Cap Markets

Key Points

• North American Construction Group has been downgraded to a "hold" rating by Atb Cap Markets, moving away from a previously held "strong-buy" rating.
• TD Securities has also lowered its rating from "buy" to "hold," adjusting the price target from C$25.00 to C$21.00.
• The stock is currently trading down 2.3% at C$17.39, with various analysts providing an average price target of C$33.50 and a consensus rating of "Moderate Buy."

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

NOA has been the topic of several other reports. TD Securities lowered shares of North American Construction Group from a "buy" rating to a "hold" rating and dropped their price target for the company from C$25.00 to C$21.00 in a research note on Thursday. BMO Capital Markets dropped their price target on shares of North American Construction Group from C$34.00 to C$30.00 in a research note on Thursday, April 17th. Raymond James Financial lowered shares of North American Construction Group from a "strong-buy" rating to an "outperform" rating and set a C$40.00 price target on the stock. in a research note on Tuesday, April 22nd. Canaccord Genuity Group lowered shares of North American Construction Group from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from C$33.00 to C$24.50 in a research note on Friday, July 11th. Finally, CIBC dropped their price target on shares of North American Construction Group from C$37.00 to C$36.00 in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$33.50.

North American Construction Group Trading Down 2.3%

TSE NOA traded down C$0.41 during trading hours on Thursday, reaching C$17.39. The company had a trading volume of 162,052 shares, compared to its average volume of 87,024. The stock has a market capitalization of C$465.48 million, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. North American Construction Group has a 1-year low of C$17.10 and a 1-year high of C$31.67. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 212.25. The stock has a 50-day moving average of C$22.25 and a 200 day moving average of C$23.14.

Insider Activity at North American Construction Group

In other North American Construction Group news, Director Martin Robert Ferron sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$24.74, for a total value of C$247,400.00. 8.93% of the stock is currently owned by company insiders.

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.

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