North American Construction Group (NYSE:NOA) Raised to Buy at Canaccord Genuity Group

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

Several other analysts also recently commented on NOA. BMO Capital Markets downgraded shares of North American Construction Group from an “outperform” rating to a “market perform” rating in a report on Thursday. Loop Capital set a $24.00 price objective on shares of North American Construction Group in a research report on Friday, December 19th. Zacks Research lowered shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of North American Construction Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 24th. Finally, Roth Mkm assumed coverage on North American Construction Group in a report on Thursday, February 5th. They issued a “buy” rating and a $25.00 target price for the company. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, North American Construction Group presently has an average rating of “Hold” and a consensus target price of $24.50.

North American Construction Group Stock Up 5.7%

NYSE:NOA traded up $0.69 during trading hours on Friday, hitting $12.79. 242,927 shares of the company traded hands, compared to its average volume of 117,871. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.59. The firm’s 50-day simple moving average is $15.74 and its 200-day simple moving average is $14.64. North American Construction Group has a one year low of $12.07 and a one year high of $18.24. The company has a market cap of $367.60 million, a PE ratio of 15.99 and a beta of 1.09.

Institutional Investors Weigh In On North American Construction Group

Large investors have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC lifted its holdings in North American Construction Group by 1.3% during the fourth quarter. SkyView Investment Advisors LLC now owns 73,616 shares of the oil and gas company’s stock valued at $1,058,000 after purchasing an additional 955 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of North American Construction Group by 0.4% in the third quarter. TD Waterhouse Canada Inc. now owns 279,428 shares of the oil and gas company’s stock valued at $4,074,000 after purchasing an additional 1,153 shares during the period. TD Asset Management Inc raised its position in shares of North American Construction Group by 3.5% in the fourth quarter. TD Asset Management Inc now owns 34,555 shares of the oil and gas company’s stock valued at $498,000 after purchasing an additional 1,178 shares during the period. Boothbay Fund Management LLC lifted its stake in shares of North American Construction Group by 16.3% during the 3rd quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 2,339 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of North American Construction Group by 29.9% during the 4th quarter. Lazard Asset Management LLC now owns 16,170 shares of the oil and gas company’s stock valued at $232,000 after buying an additional 3,718 shares in the last quarter. Hedge funds and other institutional investors 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.