North American Construction Group (NYSE:NOA) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a buy rating in a report released on Saturday.

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

North American Construction Group Trading Down 0.5%

Shares of NOA stock opened at $15.16 on Friday. The stock has a market capitalization of $439.75 million, a price-to-earnings ratio of 16.12 and a beta of 1.16. The company’s fifty day simple moving average is $14.36 and its two-hundred day simple moving average is $14.42. North American Construction Group has a 1 year low of $12.12 and a 1 year high of $20.54. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.91 and a quick ratio of 0.73.

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 for the quarter, missing the consensus estimate of $0.50 by ($0.01). North American Construction Group had a net margin of 3.02% and a return on equity of 13.29%. The company had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $231.58 million. As a group, analysts anticipate that North American Construction Group will post 2.56 earnings per share for the current year.

North American Construction Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from North American Construction Group’s previous quarterly dividend of $0.09. North American Construction Group’s payout ratio is presently 36.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of North American Construction Group by 35.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,795 shares of the oil and gas company’s stock valued at $268,000 after buying an additional 4,390 shares in the last quarter. Bank of Montreal Can grew its position in North American Construction Group by 4.6% during the second quarter. Bank of Montreal Can now owns 2,244,637 shares of the oil and gas company’s stock valued at $35,941,000 after acquiring an additional 98,646 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of North American Construction Group by 106,111.8% during 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 acquiring an additional 278,013 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of North American Construction Group by 16.7% during 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 acquiring an additional 1,474 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in shares of North American Construction Group by 31.2% in the 2nd quarter. Intact Investment Management Inc. now owns 233,600 shares of the oil and gas company’s stock worth $3,737,000 after acquiring an additional 55,600 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

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.