North American Construction Group (NYSE:NOA) Downgraded to “Strong Sell” Rating by Zacks Research

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. 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. 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. 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. Roth Mkm reissued a “buy” rating and set a $27.50 target price on shares of North American Construction Group in a research note on Friday, May 15th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of North American Construction Group in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Stock Down 5.2%

NOA stock opened at $13.27 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.80. North American Construction Group has a fifty-two week low of $12.07 and a fifty-two week high of $18.15. The firm’s 50-day simple moving average is $14.25 and its 200 day simple moving average is $14.66. The stock has a market cap of $371.18 million, a PE ratio of 16.79 and a beta of 1.07.

Hedge Funds Weigh In On North American Construction Group

Several hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC grew its stake in shares of North American Construction Group by 259.5% in the 1st quarter. Lazard Asset Management LLC now owns 58,124 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 41,954 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of North American Construction Group by 65.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company’s stock worth $5,430,000 after purchasing an additional 158,731 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of North American Construction Group by 35.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 200,248 shares of the oil and gas company’s stock worth $2,699,000 after purchasing an additional 52,605 shares during the last quarter. Morgan Dempsey Capital Management LLC acquired a new position in shares of North American Construction Group in the 1st quarter worth approximately $257,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of North American Construction Group in the 1st quarter worth approximately $612,000. Institutional investors and hedge funds 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.