North American Construction Group (NYSE:NOA) Rating Lowered to “Market Perform” at BMO Capital Markets

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday.

A number of other research firms have also recently issued reports on NOA. Zacks Research cut shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. ATB Cormark Capital Markets reiterated a “sector perform” rating on shares of North American Construction Group in a report on Friday, December 19th. Loop Capital set a $24.00 price objective on North American Construction Group in a research note on Friday, December 19th. Roth Mkm initiated coverage on North American Construction Group in a research report on Thursday, February 5th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Wall Street Zen upgraded North American Construction Group from a “hold” rating to a “buy” rating in a report on Saturday, January 24th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.50.

North American Construction Group Stock Performance

NYSE:NOA opened at $16.79 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.59. North American Construction Group has a twelve month low of $12.12 and a twelve month high of $18.24. The company has a fifty day moving average of $15.78 and a 200-day moving average of $14.66. The firm has a market capitalization of $482.83 million, a P/E ratio of 17.87 and a beta of 1.09.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings results on Wednesday, March 11th. The oil and gas company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.66). North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%.The company had revenue of $250.51 million during the quarter, compared to analyst estimates of $222.43 million. As a group, 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 institutional investors and hedge funds have recently modified their holdings of NOA. Raymond James Financial Inc. bought a new position in shares of North American Construction Group in the second quarter valued at approximately $122,000. Highlander Partners L.P. purchased a new stake in North American Construction Group in the 4th quarter valued at $132,000. Qube Research & Technologies Ltd purchased a new stake in North American Construction Group in the 3rd quarter valued at $153,000. Quadrature Capital Ltd bought a new position in North American Construction Group during the 2nd quarter valued at $182,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in North American Construction Group during the 4th quarter worth $165,000. 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.