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 objective reduced by analysts at National Bankshares from C$40.00 to C$28.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' price objective suggests a potential upside of 63.84% from the stock's previous close.

Other research analysts have also issued reports about the company. TD Securities lowered North American Construction Group from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from C$25.00 to C$21.00 in a research report on Thursday. ATB Capital lowered their target price 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. Raymond James Financial downgraded North American Construction Group from a "strong-buy" rating to an "outperform" rating and set a C$40.00 target price for the company. in a research note on Tuesday, April 22nd. Canaccord Genuity Group downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from C$33.00 to C$24.50 in a research note on Friday, July 11th. Finally, Atb Cap Markets downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, North American Construction Group has an average rating of "Moderate Buy" and an average target price of C$32.06.

North American Construction Group Stock Down 4.0%

TSE:NOA traded down C$0.71 during mid-day trading on Friday, hitting C$17.09. The company had a trading volume of 329,307 shares, compared to its average volume of 88,405. The business has a fifty day simple moving average of C$22.25 and a 200-day simple moving average of C$23.14. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 212.25. North American Construction Group has a 1 year low of C$16.95 and a 1 year high of C$31.67. The firm has a market capitalization of C$457.45 million, a price-to-earnings ratio of 8.04, a PEG 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 value of C$247,400.00. Company 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.

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