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 investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets reiterated a “market perform” rating on shares of North American Construction Group in a report on Thursday, May 14th. Roth Mkm reiterated a “buy” rating and issued a $27.50 target price on shares of North American Construction Group in a report on Friday, May 15th. 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. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of North American Construction Group in a report on Tuesday, May 19th. Finally, Canaccord Genuity Group upgraded 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, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.75.

North American Construction Group Stock Performance

Shares of NOA opened at $13.27 on Tuesday. North American Construction Group has a one year low of $12.07 and a one year high of $18.15. The company has a 50-day moving average of $14.25 and a two-hundred day moving average of $14.66. The stock has a market cap of $371.18 million, a price-to-earnings ratio of 16.79 and a beta of 1.07. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.11 and a quick ratio of 0.90.

Institutional Trading of North American Construction Group

Several institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its holdings in shares of North American Construction Group by 259.5% during the first 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 period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of North American Construction Group by 65.1% during the first 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 period. Dimensional Fund Advisors LP boosted its holdings in shares of North American Construction Group by 35.6% during the first 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 period. Morgan Dempsey Capital Management LLC acquired a new stake in shares of North American Construction Group during the first quarter worth approximately $257,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of North American Construction Group during the first quarter worth approximately $612,000. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.