North American Construction Group (TSE:NOA) Stock Rating Lowered by Canaccord Genuity Group

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA was downgraded by research analysts at Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a report released on Friday, Marketbeat reports. They presently have a C$24.50 price target on the stock, down from their prior price target of C$33.00. Canaccord Genuity Group's price objective would suggest a potential upside of 12.13% from the company's previous close.

Several other research firms have also recently issued reports on NOA. CIBC decreased their price target on North American Construction Group from C$37.00 to C$36.00 in a report on Thursday, May 22nd. TD Securities cut their price objective on North American Construction Group from C$33.00 to C$27.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Ventum Financial dropped their target price on North American Construction Group from C$45.00 to C$42.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Raymond James Financial lowered 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 report on Tuesday, April 22nd. Finally, ATB Capital decreased their target price on North American Construction Group from C$37.00 to C$34.00 and set an "outperform" rating on the stock in a report on Friday, June 27th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of C$34.17.

North American Construction Group Price Performance

North American Construction Group stock traded down C$0.99 during mid-day trading on Friday, hitting C$21.85. 333,113 shares of the company were exchanged, compared to its average volume of 82,436. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 212.25. The business has a fifty day moving average of C$23.26 and a 200 day moving average of C$24.63. North American Construction Group has a 1-year low of C$18.83 and a 1-year high of C$31.67. The company has a market capitalization of C$584.86 million, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59.

Insider Buying and Selling at North American Construction Group

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

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.