North American Construction Group (TSE:NOA) Rating Lowered to “Hold” at Canaccord Genuity Group

North American Construction Group (TSE:NOA) (NYSE:NOA) was downgraded by investment analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a C$24.50 price target on the stock, down from their prior price target of C$33.00. Canaccord Genuity Group’s price objective suggests a potential upside of 12.13% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. CIBC decreased their price target on shares of North American Construction Group from C$37.00 to C$36.00 in a report on Thursday, May 22nd. TD Securities reduced their target price on shares of North American Construction Group from C$33.00 to C$27.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Ventum Financial reduced their target price on shares of North American Construction Group from C$45.00 to C$42.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Raymond James Financial lowered shares of North American Construction Group from a “strong-buy” rating to an “outperform” rating and set a C$40.00 target price on the stock. in a report on Tuesday, April 22nd. Finally, ATB Capital reduced their target price on shares of North American Construction Group from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a report on Friday, June 27th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$34.17.

North American Construction Group Stock Performance

TSE NOA opened at C$21.85 on Friday. The company has a market capitalization of C$584.86 million, a PE ratio of 10.27, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a fifty day moving average of C$23.26 and a two-hundred day moving average of C$24.59. North American Construction Group has a 1 year low of C$18.83 and a 1 year high of C$31.67. The company has a debt-to-equity ratio of 212.25, a current ratio of 1.13 and a quick ratio of 0.79.

Insider Transactions at North American Construction Group

In related news, Director Martin Robert Ferron sold 10,000 shares of North American Construction Group stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of C$24.74, for a total transaction of C$247,400.00. 8.93% of the stock is owned by company insiders.

North American Construction Group Company Profile

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.