North American Construction Group (TSE:NOA) Trading 5.9% Higher on Analyst Upgrade

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA)’s stock price rose 5.9% during mid-day trading on Friday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. ATB Cormark Capital Markets now has a C$21.00 price target on the stock, down from their previous price target of C$23.00. North American Construction Group traded as high as C$17.67 and last traded at C$17.48. Approximately 81,806 shares traded hands during trading, a decline of 17% from the average daily volume of 98,108 shares. The stock had previously closed at C$16.50.

Several other research firms have also commented on NOA. Roth Mkm raised shares of North American Construction Group to a “strong-buy” rating in a research note on Thursday, February 5th. National Bank Financial set a C$28.00 target price on shares of North American Construction Group and gave the company an “outperform” rating in a research note on Monday, December 22nd. Canadian Imperial Bank of Commerce lowered their target price on shares of North American Construction Group from C$22.00 to C$20.00 in a report on Tuesday, December 30th. Canaccord Genuity Group raised shares of North American Construction Group from a “hold” rating to a “buy” rating and set a C$20.00 price target for the company in a research note on Friday. Finally, TD Securities cut their price target on shares of North American Construction Group from C$21.00 to C$19.00 and set a “hold” rating on the stock in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.63.

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

North American Construction Group Stock Performance

The stock has a market cap of C$511.43 million, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.79 and a beta of 0.70. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 201.83. The firm has a 50 day moving average price of C$21.52 and a 200 day moving average price of C$20.26.

North American Construction Group (TSE:NOA) (NYSE:NOA) last released its quarterly earnings data on Wednesday, March 11th. The company reported C($0.14) earnings per share 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 during the quarter. As a group, research analysts forecast that North American Construction Group Ltd. will post 4.0597484 earnings per share for the current year.

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.