North American Construction Group (NYSE:NOA) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

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

North American Construction Group Trading Down 0.1%

NYSE NOA opened at $14.57 on Monday. The company has a market capitalization of $414.08 million, a PE ratio of 18.21 and a beta of 1.11. The company has a fifty day moving average of $14.41 and a 200 day moving average of $14.67. North American Construction Group has a 1 year low of $12.07 and a 1 year high of $18.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.70.

North American Construction Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 26th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, March 26th. North American Construction Group’s dividend payout ratio is currently 43.75%.

Institutional Trading of North American Construction Group

Several large investors have recently bought and sold shares of NOA. Aegis Financial Corp purchased a new stake in North American Construction Group during the 3rd quarter valued at about $11,965,000. Bastion Asset Management Inc. purchased a new stake in North American Construction Group during the 4th quarter valued at about $8,475,000. Bank of Montreal Can grew its stake in North American Construction Group by 20.5% during the 3rd quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock valued at $38,409,000 after acquiring an additional 459,755 shares in the last quarter. CIBC Asset Management Inc grew its stake in North American Construction Group by 50.1% during the 3rd quarter. CIBC Asset Management Inc now owns 1,179,482 shares of the oil and gas company’s stock valued at $16,763,000 after acquiring an additional 393,679 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in North American Construction Group during the 4th quarter valued at about $4,877,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

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.