Wall Street Zen Upgrades North American Construction Group (NYSE:NOA) to “Buy”

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research firms also recently commented on NOA. Zacks Research raised shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of North American Construction Group in a research note on Wednesday, October 8th. ATB Capital reaffirmed a “sector perform” rating on shares of North American Construction Group in a research note on Friday, December 19th. Finally, Loop Capital set a $24.00 target price on North American Construction Group in a research note on Friday, December 19th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.00.

North American Construction Group Stock Down 0.5%

Shares of NYSE:NOA opened at $15.16 on Friday. The firm has a fifty day moving average of $14.36 and a 200 day moving average of $14.40. North American Construction Group has a 52-week low of $12.12 and a 52-week high of $20.54. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.73 and a current ratio of 0.91. The firm has a market capitalization of $439.68 million, a PE ratio of 16.12 and a beta of 1.16.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results on Wednesday, November 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $280.90 million for the quarter, compared to the consensus estimate of $231.58 million. North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%. As a group, research analysts anticipate that North American Construction Group will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On North American Construction Group

Several hedge funds have recently made changes to their positions in the business. Aegis Financial Corp purchased a new stake in North American Construction Group in the third quarter worth $11,965,000. Bank of Montreal Can boosted its stake in shares of 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 purchasing an additional 459,755 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of North American Construction Group by 50.1% during the third 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 buying an additional 393,679 shares during the period. NewGen Asset Management Ltd bought a new position in North American Construction Group in the third quarter worth about $4,719,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in North American Construction Group by 106,111.8% in 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 buying an additional 278,013 shares during the period. 74.99% of the stock is owned by hedge funds and other institutional investors.

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.