North American Construction Group (NYSE:NOA) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

Several other analysts also recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of North American Construction Group in a report on Friday, September 4th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of North American Construction Group in a research note on Thursday, July 9th. Zacks Research lowered North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, North American Construction Group has an average rating of “Hold” and an average price target of $25.75.

North American Construction Group Trading Down 1.2%

NYSE NOA opened at $12.34 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.07 and a quick ratio of 0.90. The firm’s fifty day moving average price is $13.54 and its 200 day moving average price is $13.82. The company has a market capitalization of $340.45 million, a price-to-earnings ratio of 15.61 and a beta of 1.07. North American Construction Group has a 12 month low of $12.07 and a 12 month high of $17.26.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. The firm had revenue of $321.22 million during the quarter, compared to analysts’ expectations of $246.65 million. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. On average, sell-side analysts expect that North American Construction Group will post 0.9 earnings per share for the current fiscal year.

North American Construction Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, August 28th will be paid a dividend of C$0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 28th. North American Construction Group’s dividend payout ratio is 43.04%.

Hedge Funds Weigh In On North American Construction Group

Several institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new position in North American Construction Group during the 2nd quarter worth $144,000. TD Waterhouse Canada Inc. raised its holdings in North American Construction Group by 1.1% during the second quarter. TD Waterhouse Canada Inc. now owns 329,224 shares of the oil and gas company’s stock worth $4,253,000 after purchasing an additional 3,737 shares in the last quarter. Cannell Capital LLC acquired a new stake in North American Construction Group in the second quarter valued at about $10,423,090. Bank of America Corp DE acquired a new stake in North American Construction Group in the second quarter valued at about $3,045,000. Finally, PDT Partners LLC purchased a new stake in North American Construction Group in the 2nd quarter valued at approximately $851,000. 74.99% of the stock is owned by institutional investors and hedge funds.

North American Construction Group Company Profile

North American Construction Group Ltd. is a Canadian heavy construction and mining services company headquartered in Acheson, Alberta. The company provides equipment-intensive services to resource and infrastructure customers, with a particular focus on large-scale earthworks and mine development.

Its services include contract mining, mine-site development and reclamation, heavy civil construction, site preparation, road building, overburden removal, materials handling, crushing and aggregate production, and equipment rental and maintenance.