North American Construction Group (NYSE:NOA) Downgraded to Hold at StockNews.com

North American Construction Group (NYSE:NOA) (TSE:NOA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, TD Cowen raised North American Construction Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th.

North American Construction Group Price Performance

NYSE:NOA traded down $0.16 during mid-day trading on Friday, reaching $20.47. 49,275 shares of the stock were exchanged, compared to its average volume of 66,408. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 1.71. The business has a fifty day moving average price of $22.81 and a 200 day moving average price of $21.88. North American Construction Group has a 1-year low of $18.02 and a 1-year high of $26.30. The firm has a market capitalization of $547.37 million, a PE ratio of 15.51 and a beta of 1.52.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). North American Construction Group had a return on equity of 19.77% and a net margin of 5.21%. The business had revenue of $220.33 million during the quarter, compared to analyst estimates of $217.28 million. During the same period in the prior year, the firm earned $0.71 EPS. Research analysts expect that North American Construction Group will post 2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of North American Construction Group by 101.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,500 shares of the oil and gas company’s stock valued at $11,819,000 after acquiring an additional 274,600 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in shares of North American Construction Group by 325.9% during the 3rd quarter. Quadrature Capital Ltd now owns 299,400 shares of the oil and gas company’s stock worth $6,551,000 after buying an additional 229,100 shares during the period. NewGen Asset Management Ltd acquired a new position in North American Construction Group in the 4th quarter valued at $4,170,000. Intact Investment Management Inc. bought a new position in North American Construction Group in the 4th quarter worth $3,915,000. Finally, Mackenzie Financial Corp lifted its position in North American Construction Group by 13.5% during the 3rd quarter. Mackenzie Financial Corp now owns 1,381,810 shares of the oil and gas company’s stock worth $29,116,000 after acquiring an additional 164,823 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment – Canada, Heavy Equipment – Australia, and Other segments.