North American Construction Group (NYSE:NOA) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other research firms also recently issued reports on NOA. ATB Cormark Capital Markets downgraded shares of North American Construction Group from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of North American Construction Group in a report on Tuesday, June 9th. Roth Capital reiterated a “buy” rating and issued a $27.50 target price on shares of North American Construction Group in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Stock Down 1.9%

NYSE:NOA opened at $13.67 on Monday. The company has a market cap of $381.15 million, a PE ratio of 17.31 and a beta of 1.06. North American Construction Group has a one year low of $12.07 and a one year high of $17.26. The firm’s 50 day simple moving average is $13.67 and its 200 day simple moving average is $14.39. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.07 and a quick ratio of 0.90.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $321.22 million during the quarter, compared to analyst estimates of $246.65 million. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%. On average, research analysts anticipate that North American Construction Group will post 1.6 earnings per share for the current year.

North American Construction Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, August 28th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.48 annualized dividend and a yield of 3.5%. North American Construction Group’s payout ratio is 44.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. lifted its holdings in North American Construction Group by 368.0% in the fourth quarter. Intact Investment Management Inc. now owns 117,000 shares of the oil and gas company’s stock worth $1,684,000 after buying an additional 92,000 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of North American Construction Group by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company’s stock worth $5,430,000 after acquiring an additional 158,731 shares during the period. Bastion Asset Management Inc. purchased a new position in shares of North American Construction Group during the 4th quarter worth approximately $8,475,000. CIBC Asset Management Inc grew its holdings in shares of North American Construction Group by 22.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock worth $20,812,000 after acquiring an additional 262,673 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of North American Construction Group by 35.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 200,248 shares of the oil and gas company’s stock worth $2,699,000 after acquiring an additional 52,605 shares in the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.

North American Construction Group Company Profile

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.