Canaccord Genuity Group Downgrades North American Construction Group (TSE:NOA) to Hold

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA was downgraded by equities research analysts at Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a note issued to investors on Friday, Marketbeat.com reports. They currently have a C$24.50 target price on the stock, down from their previous target price of C$33.00. Canaccord Genuity Group's price objective suggests a potential upside of 15.02% from the stock's previous close.

A number of other research firms have also recently issued reports on NOA. TD Securities lowered their target price on North American Construction Group from C$33.00 to C$27.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Raymond James Financial cut North American Construction Group from a "strong-buy" rating to an "outperform" rating and set a C$40.00 price objective for the company. in a report on Tuesday, April 22nd. National Bankshares decreased their price objective on North American Construction Group from C$44.00 to C$41.00 and set an "outperform" rating for the company in a report on Friday, March 21st. CIBC decreased their price objective on North American Construction Group from C$37.00 to C$36.00 in a report on Thursday, May 22nd. Finally, BMO Capital Markets decreased their price objective on North American Construction Group from C$34.00 to C$30.00 in a report on Thursday, April 17th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$34.17.

North American Construction Group Stock Down 2.5%

NOA stock traded down C$0.55 during trading hours on Friday, reaching C$21.30. 106,402 shares of the stock were exchanged, compared to its average volume of 82,615. The firm's 50-day moving average is C$23.26 and its 200-day moving average is C$24.48. The company has a market cap of C$570.14 million, a price-to-earnings ratio of 10.01, a PEG ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 212.25, a current ratio of 1.13 and a quick ratio of 0.79. North American Construction Group has a 12 month low of C$18.83 and a 12 month high of C$31.67.

Insider Buying and Selling

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

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.