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

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The firm currently has a $14.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 18.85% from the company’s current price.

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. “

A number of other brokerages have also weighed in on NOA. ValuEngine upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Royal Bank of Canada upgraded North American Construction Group from an “outperform” rating to a “strong-buy” rating in a research note on Monday, May 13th. National Bank Financial restated a “buy” rating on shares of North American Construction Group in a research note on Tuesday, April 2nd. CIBC initiated coverage on North American Construction Group in a research note on Tuesday, April 16th. They set a “sector outperform” rating on the stock. Finally, Raymond James upgraded North American Construction Group from an “outperform” rating to a “strong-buy” rating in a research note on Monday, May 13th. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Strong Buy” and a consensus price target of $14.00.

Shares of North American Construction Group stock opened at $11.78 on Friday. The stock has a market capitalization of $297.43 million, a price-to-earnings ratio of 28.05 and a beta of 0.48. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 2.17. North American Construction Group has a one year low of $5.35 and a one year high of $13.62.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. North American Construction Group had a return on equity of 12.32% and a net margin of 2.34%. The business had revenue of $140.21 million for the quarter, compared to analyst estimates of $161.58 million. On average, sell-side analysts anticipate that North American Construction Group will post 1.24 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in North American Construction Group by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 30,621 shares of the oil and gas company’s stock valued at $356,000 after buying an additional 2,118 shares during the last quarter. Whittier Trust Co. purchased a new stake in North American Construction Group in the fourth quarter valued at approximately $27,000. New York State Common Retirement Fund boosted its position in North American Construction Group by 29.8% in the first quarter. New York State Common Retirement Fund now owns 20,554 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 4,723 shares during the last quarter. SEI Investments Co purchased a new stake in North American Construction Group in the first quarter valued at approximately $69,000. Finally, Barclays PLC purchased a new stake in North American Construction Group in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

About North American Construction Group

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

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