North American Construction Group (NYSE:NOA) Stock Rating Upgraded by Zacks Research

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. ATB Cormark Capital Markets cut shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Canaccord Genuity Group raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. BMO Capital Markets cut shares of North American Construction Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 12th. Wall Street Zen cut shares of North American Construction Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Roth Mkm initiated coverage on shares of North American Construction Group in a research note on Thursday, February 5th. They set a “buy” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.50.

North American Construction Group Stock Down 0.1%

Shares of NOA opened at $14.57 on Monday. The company has a 50-day simple moving average of $14.41 and a 200-day simple moving average of $14.67. The firm has a market capitalization of $414.08 million, a P/E ratio of 18.21 and a beta of 1.11. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.70 and a current ratio of 0.88. North American Construction Group has a 52 week low of $12.07 and a 52 week high of $18.24.

Institutional Investors Weigh In On North American Construction Group

Hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC raised its holdings in shares of North American Construction Group by 1.3% during the fourth quarter. SkyView Investment Advisors LLC now owns 73,616 shares of the oil and gas company’s stock worth $1,058,000 after acquiring an additional 955 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of North American Construction Group by 0.4% during the third quarter. TD Waterhouse Canada Inc. now owns 279,428 shares of the oil and gas company’s stock worth $4,074,000 after acquiring an additional 1,153 shares during the period. TD Asset Management Inc raised its holdings in shares of North American Construction Group by 3.5% during the fourth quarter. TD Asset Management Inc now owns 34,555 shares of the oil and gas company’s stock worth $498,000 after acquiring an additional 1,178 shares during the period. Boothbay Fund Management LLC increased its stake in North American Construction Group by 16.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 2,339 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in North American Construction Group by 29.9% in the 4th quarter. Lazard Asset Management LLC now owns 16,170 shares of the oil and gas company’s stock valued at $232,000 after buying an additional 3,718 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.