North American Construction Group (NOA) Cut to Hold at Zacks Investment Research

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Separately, ValuEngine upgraded North American Construction Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 28th.

Shares of NOA stock opened at $10.54 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.87. North American Construction Group has a 52 week low of $4.15 and a 52 week high of $12.68. The company has a market capitalization of $315.91 million, a price-to-earnings ratio of 75.29 and a beta of 0.15.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Tuesday, October 30th. The oil and gas company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. North American Construction Group had a return on equity of 10.56% and a net margin of 4.34%. The company had revenue of $65.14 million during the quarter. On average, analysts predict that North American Construction Group will post 0.44 earnings per share for the current fiscal year.

In other news, major shareholder Cannell Capital Llc sold 99,854 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $11.04, for a total transaction of $1,102,388.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 440,652 shares of company stock valued at $5,090,906.

Hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC acquired a new position in shares of North American Construction Group during the second quarter worth approximately $808,000. Royce & Associates LP acquired a new position in shares of North American Construction Group during the second quarter worth approximately $1,434,000. Dimensional Fund Advisors LP acquired a new position in shares of North American Construction Group during the second quarter worth approximately $129,000. Acadian Asset Management LLC boosted its position in shares of North American Construction Group by 4.4% during the third quarter. Acadian Asset Management LLC now owns 1,086,081 shares of the oil and gas company’s stock worth $10,644,000 after buying an additional 45,430 shares during the period. Finally, K.J. Harrison & Partners Inc acquired a new position in shares of North American Construction Group during the second quarter worth approximately $2,045,000. Institutional investors and hedge funds own 50.78% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Ltd. provides 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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