North American Construction Group (TSE:NOA) Rating Increased to Buy at Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded North American Construction Group from "hold" to "buy" with a C$20 price target, implying about an 11.11% upside from the prior close.
• The analyst consensus is a “Moderate Buy” (1 Strong Buy, 5 Buy, 3 Hold) with a consensus price target of C$24.63, signaling higher upside among some brokers.
• Shares traded at C$18.00 on the latest session (market cap ~C$523M) with a P/E of 14.17, but the company shows high leverage (debt-to-equity 193.35) and reported a quarterly EPS of C($0.14).

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA was upgraded by equities researchers at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a report released on Friday,BayStreet.CA reports. The brokerage presently has a C$20.00 price objective on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 11.11% from the stock's previous close.

A number of other research analysts have also issued reports on NOA. Canadian Imperial Bank of Commerce decreased their target price on North American Construction Group from C$22.00 to C$20.00 in a research report on Tuesday, December 30th. BMO Capital Markets cut shares of North American Construction Group from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from C$26.00 to C$23.00 in a research report on Thursday. TD Securities decreased their price objective on shares of North American Construction Group from C$21.00 to C$19.00 and set a "hold" rating on the stock in a report on Friday, December 19th. Roth Mkm upgraded shares of North American Construction Group to a "strong-buy" rating in a research report on Thursday, February 5th. Finally, National Bank Financial set a C$28.00 target price on shares of North American Construction Group and gave the stock an "outperform" rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$24.63.

North American Construction Group Price Performance

Shares of North American Construction Group stock traded up C$1.50 on Friday, hitting C$18.00. The company's stock had a trading volume of 268,581 shares, compared to its average volume of 102,330. The company has a market capitalization of C$523.35 million, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.79 and a beta of 0.70. North American Construction Group has a 1 year low of C$16.45 and a 1 year high of C$25.05. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.79 and a current ratio of 0.91. The firm has a fifty day moving average price of C$21.57 and a 200-day moving average price of C$20.25.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA last issued its quarterly earnings data on Wednesday, March 11th. The company reported C($0.14) EPS for the quarter. The business had revenue of C$305.58 million during the quarter. North American Construction Group had a net margin of 3.00% and a return on equity of 9.34%. As a group, sell-side analysts anticipate that North American Construction Group will post 4.0597484 earnings per share for the current fiscal year.

North American Construction Group Company Profile

North American Construction Group Ltd is Canada's provider of heavy civil construction and mining contractors. The company has provided services to the oil, natural gas and resource companies.

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