North American Construction Group (NYSE:NOA) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of North American Construction Group (NYSE:NOA – Get Rating) (TSE:NOA) from a buy rating to a strong-buy rating in a report published on Tuesday morning.

A number of other equities analysts also recently issued reports on the company. TD Securities downgraded North American Construction Group from a buy rating to a hold rating in a report on Friday, February 17th. National Bank Financial lifted their price objective on North American Construction Group to C$27.00 in a research note on Friday, February 17th. TheStreet raised North American Construction Group from a c+ rating to a b rating in a research report on Thursday, February 16th. Finally, BMO Capital Markets boosted their price target on North American Construction Group from C$24.00 to C$25.00 in a report on Thursday, February 16th.

North American Construction Group Stock Performance

NOA opened at $18.22 on Tuesday. The firm has a market capitalization of $481.28 million, a PE ratio of 9.85 and a beta of 1.50. North American Construction Group has a 12-month low of $9.20 and a 12-month high of $19.70. The firm has a 50 day moving average of $18.01 and a two-hundred day moving average of $15.65. The company has a current ratio of 1.15, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08.

North American Construction Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, May 26th will be paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, May 25th. North American Construction Group’s payout ratio is 15.68%.

Institutional Trading of North American Construction Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOA. CWM LLC bought a new position in North American Construction Group in the fourth quarter valued at $27,000. UBS Group AG increased its position in shares of North American Construction Group by 121.4% during the first quarter. UBS Group AG now owns 2,216 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,215 shares in the last quarter. BlackRock Inc. bought a new stake in North American Construction Group in the 3rd quarter worth approximately $35,000. State of Tennessee Treasury Department bought a new stake in shares of North American Construction Group during the 1st quarter valued at $40,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of North American Construction Group by 114.5% during the 1st quarter. JPMorgan Chase & Co. now owns 2,831 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 1,511 shares in the last quarter. 57.19% of the stock is owned by institutional investors.

About North American Construction Group

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North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers mining and heavy construction services to customers in the resource development and industrial construction sectors. The firm focuses on supporting the construction and operation of surface mines in the oil sands.