North American Construction Group (TSE:NOA) Price Target Lowered to C$28.00 at National Bankshares

Key Points

• National Bankshares has lowered its price target for North American Construction Group from C$40.00 to C$28.00, signifying a potential upside of 63.84% from the stock's previous close.
• Several other analysts have also downgraded their ratings, with TD Securities reducing its rating from "strong-buy" to "hold" and cutting the target price from C$25.00 to C$21.00.
• North American Construction Group's stock price decreased by 4.0% to C$17.09 during mid-day trading on Friday, amidst a high trading volume of 329,307 shares.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA had its price target cut by research analysts at National Bankshares from C$40.00 to C$28.00 in a report released on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price target indicates a potential upside of 55.56% from the company's previous close.

Other research analysts also recently issued research reports about the company. ATB Capital cut their price target on North American Construction Group from C$37.00 to C$34.00 and set an "outperform" rating for the company in a research note on Friday, June 27th. TD Securities downgraded North American Construction Group from a "buy" rating to a "hold" rating and cut their price target for the stock from C$25.00 to C$21.00 in a research note on Thursday, August 14th. Canaccord Genuity Group downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from C$33.00 to C$24.50 in a research note on Friday, July 11th. BMO Capital Markets cut their price target on North American Construction Group from C$34.00 to C$30.00 in a research note on Thursday, April 17th. Finally, CIBC cut their price target on North American Construction Group from C$37.00 to C$36.00 in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$32.06.

North American Construction Group Price Performance

North American Construction Group stock traded up C$0.88 during midday trading on Friday, reaching C$18.00. The company's stock had a trading volume of 179,981 shares, compared to its average volume of 91,886. North American Construction Group has a fifty-two week low of C$16.78 and a fifty-two week high of C$31.67. The company has a debt-to-equity ratio of 212.25, a quick ratio of 0.79 and a current ratio of 1.13. The stock's 50 day simple moving average is C$21.68 and its 200 day simple moving average is C$22.84. The firm has a market capitalization of C$481.81 million, a PE ratio of 8.46, a P/E/G ratio of 0.79 and a beta of 1.59.

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. Corporate 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.