Raymond James Financial Has Lowered Expectations for North American Construction Group (TSE:NOA) Stock Price

North American Construction Group (TSE:NOA) (NYSE:NOA) had its price objective reduced by analysts at Raymond James Financial from C$26.00 to C$24.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 36.44% from the stock’s previous close.

Several other research firms have also recently issued reports on NOA. TD Securities cut their target price on North American Construction Group from C$21.00 to C$19.00 and set a “hold” rating for the company in a research note on Friday, December 19th. BMO Capital Markets lowered North American Construction Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from C$26.00 to C$23.00 in a research note on Thursday. Canadian Imperial Bank of Commerce lowered their price target on North American Construction Group from C$22.00 to C$20.00 in a report on Tuesday, December 30th. Canaccord Genuity Group raised North American Construction Group from a “hold” rating to a “buy” rating and set a C$20.00 price objective for the company in a research report on Friday. Finally, Roth Mkm upgraded shares of North American Construction Group to a “strong-buy” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, North American Construction Group currently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.63.

North American Construction Group Stock Performance

North American Construction Group stock opened at C$17.59 on Friday. The firm has a 50 day simple moving average of C$21.52 and a 200-day simple moving average of C$20.26. The stock has a market cap of C$511.43 million, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 0.79 and a beta of 0.70. The company has a debt-to-equity ratio of 201.83, a current ratio of 0.88 and a quick ratio of 0.79. North American Construction Group has a 1-year low of C$16.45 and a 1-year high of C$25.05.

North American Construction Group (TSE:NOA) (NYSE:NOA) last released its quarterly earnings results on Wednesday, March 11th. The company reported C($0.14) EPS for the quarter. North American Construction Group had a net margin of 2.63% and a return on equity of 7.88%. The firm had revenue of C$305.58 million for the quarter. On average, analysts expect that North American Construction Group will post 4.0597484 EPS for the current year.

More North American Construction Group News

Here are the key news stories impacting North American Construction Group this week:

• Positive Sentiment: Multiple broker upgrades: Raymond James maintained an “outperform” rating (PT trimmed C$26 → C$24), ATB Cormark upgraded NOA to “outperform” (PT C$21), and Canaccord raised the stock from “hold” to “buy” (PT C$20). These upgrades increase buy-side visibility and likely supported the rally. Analyst Ratings Roundup
• Positive Sentiment: Corporate update: North American Construction filed its 2025 annual report and signaled a “2026 growth pivot” — a forward-looking message that can boost investor confidence in recovery/earnings traction next year. Annual Report / Growth Pivot
• Neutral Sentiment: ESG disclosure: The company filed a 2025 Supply Chains Anti‑Slavery Report — improves governance/transparency but is unlikely to move near-term fundamentals. Anti‑Slavery Report
• Negative Sentiment: Quarterly results were mixed: NOA reported a loss per share (C($0.14)) on C$305.6M revenue; net margin ~3% and ROE ~9.3%. The EPS shortfall is a near-term negative that could cap upside until profitability normalizes. Quarterly Results
• Negative Sentiment: Broker downgrade: BMO cut NOA from “outperform” to “market perform” and lowered its PT to C$23, which is a counterweight to the upgrades and may limit upside for more conservative investors. BMO Coverage Change

About North American Construction Group

North American Construction Group Ltd is Canada’s provider of heavy civil construction and mining contractors. The company has provided services to the oil, natural gas and resource companies.