Raymond James Financial Issues Positive Forecast for North American Construction Group (TSE:NOA) Stock Price

Key Points

• Raymond James raised its target price to C$26 (from C$24), implying about a 31.71% upside versus the current share price of C$19.74.
• Analyst sentiment is mixed: MarketBeat shows a consensus "Moderate Buy" with a mean target of C$22.43, and broker ratings split among one Strong Buy, three Buy and four Hold.
• The company has strained fundamentals—shares at C$19.74, a high debt-to-equity of 201.83, a current ratio of 0.88 and a recent quarterly EPS of C($0.14)—but a director recently bought 2,000 shares and insiders own 8.93%.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA had its target price increased by investment analysts at Raymond James Financial from C$24.00 to C$26.00 in a research note issued on Wednesday,BayStreet.CA reports. Raymond James Financial's price target would suggest a potential upside of 31.71% from the stock's current price.

A number of other research analysts also recently commented on NOA. BMO Capital Markets downgraded North American Construction Group from an "outperform" rating to a "market perform" rating and lowered their target price for the company from C$26.00 to C$23.00 in a research report on Thursday, March 12th. ATB Cormark Capital Markets lowered North American Construction Group from an "outperform" rating to a "sector perform" rating in a report on Tuesday. Canadian Imperial Bank of Commerce decreased their price target on North American Construction Group from C$22.00 to C$20.00 in a report on Tuesday, December 30th. Canaccord Genuity Group upgraded North American Construction Group from a "hold" rating to a "buy" rating and set a C$20.00 price target on the stock in a report on Friday, March 13th. Finally, Roth Mkm upgraded North American Construction Group to a "strong-buy" rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, North American Construction Group presently has an average rating of "Moderate Buy" and a consensus target price of C$22.43.

North American Construction Group Price Performance

Shares of TSE NOA traded down C$0.12 during midday trading on Wednesday, reaching C$19.74. 201,622 shares of the stock traded hands, compared to its average volume of 110,286. The company has a debt-to-equity ratio of 201.83, a current ratio of 0.88 and a quick ratio of 0.79. The stock has a market capitalization of C$545.63 million, a PE ratio of 17.32, a P/E/G ratio of 0.79 and a beta of 0.93. North American Construction Group has a one year low of C$16.45 and a one year high of C$24.90. The company's 50 day moving average is C$20.21 and its 200 day moving average is C$20.26.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA last posted its earnings results on Wednesday, March 11th. The company reported C($0.14) EPS for the quarter. The firm had revenue of C$305.58 million for the quarter. North American Construction Group had a net margin of 2.63% and a return on equity of 7.88%. On average, equities research analysts anticipate that North American Construction Group will post 4.0597484 earnings per share for the current year.

Insiders Place Their Bets

In other North American Construction Group news, Director John Joseph Pollesel bought 2,000 shares of North American Construction Group stock in a transaction on Monday, March 16th. The shares were acquired at an average price of C$17.90 per share, for a total transaction of C$35,800.00. Following the completion of the purchase, the director directly owned 3,500 shares in the company, valued at approximately C$62,650. This trade represents a 133.33% increase in their position. 8.93% of the stock is currently owned by insiders.

About North American Construction Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.