North American Construction Group (NYSE:NOA) Cut to Hold at Wall Street Zen

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently weighed in on the stock. ATB Capital reiterated a “sector perform” rating on shares of North American Construction Group in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of North American Construction Group in a research report on Wednesday, October 8th. Loop Capital set a $24.00 price target on North American Construction Group in a research report on Friday, December 19th. Finally, Zacks Research raised North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.00.

North American Construction Group Stock Performance

Shares of NOA stock opened at $15.16 on Friday. The company has a market cap of $440.71 million, a P/E ratio of 16.12 and a beta of 1.16. The business has a 50 day moving average of $14.07 and a two-hundred day moving average of $14.49. North American Construction Group has a 52 week low of $12.12 and a 52 week high of $21.73. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.59.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Wednesday, November 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company had revenue of $280.90 million during the quarter, compared to the consensus estimate of $231.58 million. North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%. As a group, analysts anticipate that North American Construction Group will post 2.56 EPS for the current year.

Institutional Investors Weigh In On North American Construction Group

A number of institutional investors and hedge funds have recently bought and sold shares of NOA. Raymond James Financial Inc. acquired a new position in shares of North American Construction Group in the 2nd quarter worth approximately $122,000. Public Employees Retirement System of Ohio grew its position in North American Construction Group by 16.7% in the second quarter. Public Employees Retirement System of Ohio now owns 10,307 shares of the oil and gas company’s stock worth $165,000 after buying an additional 1,474 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of North American Construction Group in the third quarter valued at $153,000. Quadrature Capital Ltd acquired a new stake in shares of North American Construction Group during the 2nd quarter valued at $182,000. Finally, Lazard Asset Management LLC lifted its position in shares of North American Construction Group by 1,424.1% during the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock valued at $177,000 after acquiring an additional 11,635 shares during the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

About North American Construction Group

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.