North American Construction Group (NYSE:NOA) Rating Lowered to Strong Sell at Zacks Research

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on NOA. Wall Street Zen raised North American Construction Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 24th. ATB Capital reaffirmed a “sector perform” rating on shares of North American Construction Group in a research note on Friday, December 19th. Weiss Ratings reissued a “hold (c)” rating on shares of North American Construction Group in a research report on Wednesday, October 8th. Finally, Loop Capital set a $24.00 price target on shares of North American Construction Group in a research report on Friday, December 19th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $24.00.

North American Construction Group Stock Performance

Shares of NOA stock opened at $14.93 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.73 and a current ratio of 0.91. The firm has a market capitalization of $433.21 million, a price-to-earnings ratio of 15.89 and a beta of 1.15. North American Construction Group has a one year low of $12.12 and a one year high of $19.33. The company has a 50 day moving average price of $14.55 and a 200 day moving average price of $14.37.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings data on Wednesday, November 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $231.58 million. North American Construction Group had a net margin of 3.02% and a return on equity of 13.29%. Sell-side analysts anticipate that North American Construction Group will post 2.56 EPS for the current year.

Institutional Trading of North American Construction Group

Several large investors have recently bought and sold shares of NOA. Raymond James Financial Inc. purchased a new stake in shares of North American Construction Group during the second quarter valued at approximately $122,000. Highlander Partners L.P. acquired a new stake in North American Construction Group during the 4th quarter valued at $132,000. Qube Research & Technologies Ltd purchased a new stake in North American Construction Group during the 3rd quarter worth $153,000. Quadrature Capital Ltd acquired a new position in North American Construction Group in the 2nd quarter worth $182,000. Finally, Lazard Asset Management LLC boosted its position in North American Construction Group by 1,424.1% in the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 11,635 shares during the last quarter. Institutional investors and hedge funds 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.