Canaccord Genuity Group Lowers North American Construction Group (NYSE:NOA) Price Target to C$22.00

North American Construction Group (NYSE:NOAGet Rating) (TSE:NOA) had its price objective decreased by equities researchers at Canaccord Genuity Group from C$26.00 to C$22.00 in a research note issued on Monday, The Fly reports.

Several other equities analysts have also issued reports on NOA. StockNews.com lowered North American Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 3rd. Raymond James reduced their price objective on North American Construction Group to C$22.00 in a research note on Thursday, July 28th. National Bank Financial lowered their target price on North American Construction Group to C$20.00 in a research report on Friday, July 29th. Finally, TheStreet lowered shares of North American Construction Group from a “b-” rating to a “c+” rating in a research note on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

North American Construction Group Stock Performance

Shares of NYSE:NOA opened at $11.17 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.66. North American Construction Group has a 1 year low of $10.36 and a 1 year high of $17.79. The stock has a market capitalization of $323.93 million, a price-to-earnings ratio of 8.80 and a beta of 1.41. The company’s 50 day simple moving average is $11.76 and its 200 day simple moving average is $13.41.

North American Construction Group (NYSE:NOAGet Rating) (TSE:NOA) last posted its earnings results on Wednesday, July 27th. The oil and gas company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). North American Construction Group had a net margin of 7.29% and a return on equity of 18.10%. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, research analysts predict that North American Construction Group will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On North American Construction Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in North American Construction Group by 121.4% in the 1st quarter. UBS Group AG now owns 2,216 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,215 shares during the period. JPMorgan Chase & Co. boosted its holdings in North American Construction Group by 114.5% in the 1st quarter. JPMorgan Chase & Co. now owns 2,831 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 1,511 shares during the period. New York State Common Retirement Fund purchased a new position in shares of North American Construction Group during the 1st quarter valued at $84,000. Acadian Asset Management LLC bought a new position in North American Construction Group in the 4th quarter worth about $87,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in North American Construction Group in the first quarter valued at approximately $149,000. Institutional investors own 48.17% of the company’s stock.

About North American Construction Group

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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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