Zacks Research Downgrades North American Construction Group (NYSE:NOA) to Strong Sell

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

A number of other brokerages have also recently commented on NOA. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a research note on Thursday, July 9th. BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of North American Construction Group in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.75.

North American Construction Group Stock Down 2.0%

NYSE:NOA opened at $12.86 on Tuesday. North American Construction Group has a 12-month low of $12.07 and a 12-month high of $17.26. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $356.43 million, a P/E ratio of 16.28 and a beta of 1.07. The stock’s fifty day simple moving average is $13.67 and its 200-day simple moving average is $14.01.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its quarterly earnings data on Wednesday, August 12th. The oil and gas company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%.The business had revenue of $321.22 million during the quarter, compared to the consensus estimate of $246.65 million. Equities research analysts expect that North American Construction Group will post 0.96 earnings per share for the current year.

Institutional Trading of North American Construction Group

A number of large investors have recently bought and sold shares of NOA. WINTON GROUP Ltd acquired a new stake in North American Construction Group during the 2nd quarter worth approximately $144,000. Stephens Inc. AR bought a new stake in shares of North American Construction Group during the fourth quarter worth $190,000. Savant Capital LLC bought a new stake in shares of North American Construction Group during the fourth quarter worth $215,000. Morgan Dempsey Capital Management LLC acquired a new stake in shares of North American Construction Group during the first quarter worth $257,000. Finally, Cibc World Market Inc. acquired a new stake in shares of North American Construction Group during the second quarter worth $278,000. 74.99% of the stock is owned by institutional investors.

About North American Construction Group

North American Construction Group Ltd. is a Canadian heavy construction and mining services company headquartered in Acheson, Alberta. The company provides equipment-intensive services to resource and infrastructure customers, with a particular focus on large-scale earthworks and mine development.

Its services include contract mining, mine-site development and reclamation, heavy civil construction, site preparation, road building, overburden removal, materials handling, crushing and aggregate production, and equipment rental and maintenance.