North American Construction Group (NYSE:NOA) Stock Rating Lowered by Atb Cap Markets

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by investment analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on NOA. Wall Street Zen raised North American Construction Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Raymond James Financial downgraded North American Construction Group from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, April 22nd. Canaccord Genuity Group cut North American Construction Group from a “buy” rating to a “hold” rating in a research report on Friday, July 11th. Finally, TD Securities cut North American Construction Group from a “buy” rating to a “hold” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

North American Construction Group Price Performance

Shares of NYSE NOA opened at $12.32 on Thursday. North American Construction Group has a fifty-two week low of $12.23 and a fifty-two week high of $22.08. The company has a market cap of $371.82 million, a PE ratio of 14.16 and a beta of 1.26. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.74 and a current ratio of 0.94. The business has a 50-day simple moving average of $16.13 and a two-hundred day simple moving average of $16.50.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Wednesday, August 13th. The oil and gas company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.42). North American Construction Group had a net margin of 2.82% and a return on equity of 17.15%. The company had revenue of $235.51 million for the quarter, compared to analysts’ expectations of $231.51 million. As a group, equities analysts expect that North American Construction Group will post 2.56 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. Polar Asset Management Partners Inc. boosted its position in shares of North American Construction Group by 70.3% in the first quarter. Polar Asset Management Partners Inc. now owns 1,740,985 shares of the oil and gas company’s stock worth $27,577,000 after buying an additional 718,884 shares during the period. AYAL Capital Advisors Ltd boosted its position in shares of North American Construction Group by 619.2% in the fourth quarter. AYAL Capital Advisors Ltd now owns 418,570 shares of the oil and gas company’s stock worth $9,045,000 after buying an additional 360,370 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of North American Construction Group by 106,111.8% in the second quarter. TD Waterhouse Canada Inc. now owns 278,275 shares of the oil and gas company’s stock worth $4,463,000 after buying an additional 278,013 shares during the period. NewGen Asset Management Ltd acquired a new stake in shares of North American Construction Group in the first quarter worth $2,368,000. Finally, Bank of America Corp DE boosted its position in shares of North American Construction Group by 80.7% in the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock worth $5,214,000 after buying an additional 145,745 shares during the period. 74.99% of the stock is owned by institutional investors.

About North American Construction Group

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.