North American Construction Group (TSE:NOA) Downgraded to "Hold" Rating by TD Securities

Key Points

• North American Construction Group was downgraded from a "buy" to a "hold" rating by TD Securities, with their target price lowered from C$25.00 to C$21.00.
• The stock has seen a significant decline of 25%, trading at C$17.25, and the company has a market cap of C$461.73 million.
• Analysts have mixed ratings on the stock, with two hold ratings, six buy ratings, and one strong buy rating, reflecting a consensus price target of C$33.50.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA was downgraded by research analysts at TD Securities from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a C$21.00 price objective on the stock, down from their previous price objective of C$25.00. TD Securities' price objective suggests a potential upside of 23.46% from the company's current price.

Several other brokerages also recently commented on NOA. BMO Capital Markets cut their price objective on shares of North American Construction Group from C$34.00 to C$30.00 in a research report on Thursday, April 17th. 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 for the company. in a report on Tuesday, April 22nd. CIBC cut their target price on North American Construction Group from C$37.00 to C$36.00 in a research report on Thursday, May 22nd. Canaccord Genuity Group cut shares of North American Construction Group from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from C$33.00 to C$24.50 in a research note on Friday, July 11th. Finally, ATB Capital decreased their price objective 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$32.06.

North American Construction Group Trading Down 4.4%

Shares of NOA opened at C$17.01 on Thursday. The firm has a 50 day moving average price of C$22.11 and a 200-day moving average price of C$23.06. The company has a debt-to-equity ratio of 212.25, a quick ratio of 0.79 and a current ratio of 1.13. North American Construction Group has a fifty-two week low of C$16.95 and a fifty-two week high of C$31.67. The firm has a market cap of C$455.31 million, a price-to-earnings ratio of 8.00, a PEG ratio of 0.79 and a beta of 1.59.

Insider Activity at North American Construction Group

In other North American Construction Group news, Director Martin Robert Ferron sold 10,000 shares of North American Construction Group stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of C$24.74, for a total value of C$247,400.00. 8.93% of the stock is 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.