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

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

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

North American Construction Group Price Performance

Shares of North American Construction Group stock opened at $12.86 on Tuesday. The firm has a market capitalization of $356.43 million, a PE ratio of 16.28 and a beta of 1.07. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 2.15. North American Construction Group has a 12 month low of $12.07 and a 12 month high of $17.26. The business’s 50-day moving average price is $13.67 and its 200-day moving average price is $14.01.

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

Institutional Trading of North American Construction Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new position in shares of North American Construction Group during the 2nd quarter worth approximately $144,000. Stephens Inc. AR purchased a new position in shares of North American Construction Group in the 4th quarter valued at approximately $190,000. Savant Capital LLC purchased a new position in shares of North American Construction Group in the 4th quarter valued at approximately $215,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of North American Construction Group during the first quarter valued at approximately $257,000. Finally, Cibc World Market Inc. bought a new stake in shares of North American Construction Group during the second quarter valued at approximately $278,000. 74.99% of the stock is currently owned by hedge funds and other 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.