North American Construction Group (NYSE:NOA) Cut to Strong Sell at 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 Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on NOA. ATB Capital restated a “sector perform” rating on shares of North American Construction Group in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of North American Construction Group in a report on Wednesday, October 8th. Loop Capital set a $24.00 target price on shares of North American Construction Group in a research report on Friday, December 19th. Finally, Wall Street Zen raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a report on Saturday, January 24th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, North American Construction Group has a consensus rating of “Reduce” and a consensus target price of $24.00.

North American Construction Group Price Performance

NOA stock opened at $14.93 on Monday. The firm has a 50 day moving average of $14.55 and a 200-day moving average of $14.37. North American Construction Group has a 12-month low of $12.12 and a 12-month high of $19.33. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 1.59. The company has a market cap of $433.21 million, a price-to-earnings ratio of 15.89 and a beta of 1.15.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its quarterly earnings results on Wednesday, November 12th. The oil and gas company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $280.90 million during the quarter, compared to analyst estimates 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, equities analysts expect that North American Construction Group will post 2.56 EPS for the current fiscal year.

Institutional Trading of North American Construction Group

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in North American Construction Group by 20.5% in 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 during the last quarter. Claret Asset Management Corp grew its position in shares of North American Construction Group by 0.7% in the second quarter. Claret Asset Management Corp now owns 2,064,325 shares of the oil and gas company’s stock valued at $33,026,000 after purchasing an additional 14,686 shares during the period. CIBC Asset Management Inc increased its stake in North American Construction Group by 50.1% in 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 purchasing an additional 393,679 shares during the last quarter. Aegis Financial Corp purchased a new position in North American Construction Group during the third quarter worth about $11,965,000. Finally, American Century Companies Inc. lifted its position in North American Construction Group by 9.7% during the second quarter. American Century Companies Inc. now owns 334,322 shares of the oil and gas company’s stock worth $5,350,000 after buying an additional 29,624 shares during the period. Institutional investors and hedge funds 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.