North American Construction Group (NYSE:NOA) Stock Rating Upgraded by Zacks Investment Research

North American Construction Group (NYSE:NOAGet Rating) (TSE:NOA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $17.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.63% from the company’s current price.

According to Zacks, “North American Construction Group Ltd. provides heavy construction and mining services primarily in Canada. It offers services to large oil, natural gas and resource companies. American Construction Group Ltd, formerly known as North American Energy Partners Inc., is based in Alberta, United States. “

Other equities research analysts have also recently issued reports about the company. CIBC assumed coverage on North American Construction Group in a research report on Tuesday, January 25th. They set a “neutral” rating and a $22.00 target price on the stock. TheStreet upgraded North American Construction Group from a “c+” rating to a “b-” rating in a research report on Monday, March 7th. Finally, StockNews.com cut North American Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 4th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $24.61.

NYSE NOA opened at $14.83 on Wednesday. The stock has a 50-day simple moving average of $14.98 and a two-hundred day simple moving average of $15.07. The firm has a market capitalization of $421.99 million, a P/E ratio of 11.50 and a beta of 1.43. North American Construction Group has a fifty-two week low of $10.56 and a fifty-two week high of $17.79. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.64 and a current ratio of 0.91.

North American Construction Group (NYSE:NOAGet Rating) (TSE:NOA) last released its quarterly earnings data on Wednesday, February 16th. The oil and gas company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The business had revenue of $143.60 million during the quarter, compared to analyst estimates of $146.51 million. North American Construction Group had a return on equity of 22.23% and a net margin of 7.81%. During the same quarter last year, the business posted $0.28 EPS. As a group, analysts forecast that North American Construction Group will post 1.9 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. SkyView Investment Advisors LLC acquired a new stake in North American Construction Group in the 4th quarter worth about $173,000. Bank of America Corp DE lifted its stake in North American Construction Group by 14.1% in the 4th quarter. Bank of America Corp DE now owns 5,661 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 701 shares in the last quarter. Acadian Asset Management LLC purchased a new position in North American Construction Group in the 4th quarter worth approximately $87,000. Marshall Wace LLP purchased a new position in North American Construction Group in the 4th quarter worth approximately $100,000. Finally, KB Financial Partners LLC purchased a new position in North American Construction Group in the 4th quarter worth approximately $163,000. Institutional investors own 44.62% of the company’s stock.

North American Construction Group Company Profile (Get Rating)

North American Construction Group Ltd. provides equipment maintenance, and mining and heavy construction services in Canada, the United States, and Australia. The company's Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services.

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