North American Construction Group (NYSE:NOA) Upgraded at ATB Cormark Capital Markets

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by research analysts at ATB Cormark Capital Markets from a “hold” rating to a “moderate buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

NOA has been the subject of several other reports. Wall Street Zen lowered shares of North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Zacks Research raised North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings restated a “hold (c-)” rating on shares of North American Construction Group in a research report on Friday, September 4th. BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a research report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.75.

North American Construction Group Trading Up 4.5%

Shares of North American Construction Group stock opened at $11.89 on Monday. 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 has a 1 year low of $10.85 and a 1 year high of $17.26. The firm has a market cap of $328.30 million, a PE ratio of 15.06 and a beta of 1.12. The company has a 50 day simple moving average of $12.62 and a two-hundred day simple moving average of $14.02.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $321.22 million for the quarter, compared to analyst estimates of $246.65 million. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. Analysts expect that North American Construction Group will post 0.90 earnings per share for the current fiscal year.

Hedge Funds Weigh In On North American Construction Group

Large investors have recently bought and sold shares of the stock. Cannell Capital LLC bought a new stake in North American Construction Group in the second quarter valued at approximately $10,423,090. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of North American Construction Group during the second quarter valued at approximately $8,029,000. Arrowstreet Capital Limited Partnership boosted its stake 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 valued at $5,430,000 after purchasing an additional 158,731 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of North American Construction Group by 4.5% in the third quarter. TD Waterhouse Canada Inc. now owns 344,109 shares of the oil and gas company’s stock worth $4,176,000 after purchasing an additional 14,885 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of North American Construction Group in the second quarter worth approximately $3,045,000. 74.99% of the stock is owned by hedge funds and other institutional investors.

About North American Construction Group

North American Construction Group Inc is a Canadian heavy civil construction and contract mining company serving the resource and infrastructure sectors. The company provides large-scale earthmoving, site development, mine-support and construction services for customers primarily in western Canada.

Its services include contract mining, overburden removal, mine development, heavy civil construction, roadbuilding, reclamation and site preparation. North American Construction Group also provides equipment maintenance, repair and rebuild services, and operates a large fleet of heavy construction and mining equipment to support its projects.

Founded in 1953, the company has developed long-standing expertise in the Canadian oil sands and other resource projects.