North American Construction Group (NYSE:NOA) Upgraded to “Strong-Buy” at Zacks Investment Research


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Zacks Investment Research upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a strong-buy rating in a research note published on Wednesday, Zacks.com reports. The brokerage currently has $11.00 target price on the oil and gas company’s stock.

According to Zacks, “North American Construction Group Ltd. provides heavy construction and mining services primarily in Canada. It offers services to large oil, natural gas and resource companies. American Construction Group Ltd, formerly known as North American Energy Partners Inc., is based in Alberta, United States. “

Several other equities research analysts have also commented on NOA. TD Securities lowered shares of North American Construction Group from a buy rating to a hold rating in a research report on Tuesday, December 8th. They noted that the move was a valuation call. ValuEngine cut North American Construction Group from a hold rating to a sell rating in a report on Tuesday, December 1st. BidaskClub raised North American Construction Group from a sell rating to a hold rating in a report on Tuesday, January 5th. Raymond James boosted their price objective on shares of North American Construction Group from $9.00 to $10.00 and gave the stock a market perform rating in a research report on Friday, October 30th. Finally, Maxim Group boosted their price target on North American Construction Group from $17.00 to $18.00 and gave the stock an outperform rating in a report on Friday, January 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $14.42.

Shares of NOA stock opened at $10.01 on Wednesday. The company has a market capitalization of $310.15 million, a P/E ratio of 8.48 and a beta of 1.45. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $10.15 and its two-hundred day moving average is $7.84. North American Construction Group has a twelve month low of $4.11 and a twelve month high of $12.19.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings data on Monday, November 2nd. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. North American Construction Group had a net margin of 8.50% and a return on equity of 23.22%. The firm had revenue of $70.56 million for the quarter, compared to analyst estimates of $73.84 million. As a group, equities analysts predict that North American Construction Group will post 1.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 8th. Investors of record on Monday, November 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.20%. North American Construction Group’s payout ratio is currently 10.62%.

A number of hedge funds have recently bought and sold shares of the business. Polar Asset Management Partners Inc. raised its position in North American Construction Group by 9.7% in the third quarter. Polar Asset Management Partners Inc. now owns 3,220,709 shares of the oil and gas company’s stock worth $20,967,000 after acquiring an additional 284,400 shares in the last quarter. Boothbay Fund Management LLC grew its stake in shares of North American Construction Group by 2.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 372,948 shares of the oil and gas company’s stock worth $2,428,000 after purchasing an additional 7,783 shares during the last quarter. Cannell Capital LLC raised its holdings in shares of North American Construction Group by 3.8% in the 3rd quarter. Cannell Capital LLC now owns 2,683,340 shares of the oil and gas company’s stock worth $17,469,000 after purchasing an additional 98,672 shares in the last quarter. Group One Trading L.P. lifted its stake in North American Construction Group by 6,357.0% during the third quarter. Group One Trading L.P. now owns 12,914 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 12,714 shares during the last quarter. Finally, Tranquility Partners LLC boosted its holdings in North American Construction Group by 15.3% during the third quarter. Tranquility Partners LLC now owns 26,374 shares of the oil and gas company’s stock worth $172,000 after buying an additional 3,503 shares in the last quarter. Institutional investors own 45.54% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Ltd. provides mining and heavy construction services to the resource development and industrial construction sectors in Canada. The company's Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services.

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