North American Construction Group (TSE:NOA) Stock Rating Upgraded by Raymond James

North American Construction Group (TSE:NOA) (NYSE:NOA) was upgraded by equities research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Tuesday, Marketbeat.com reports. The firm presently has a C$40.00 price objective on the stock. Raymond James’ price objective would indicate a potential upside of 33.02% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. National Bankshares raised their target price on shares of North American Construction Group from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Cibc World Mkts raised shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. Canaccord Genuity Group raised their price target on shares of North American Construction Group from C$32.00 to C$33.00 in a report on Friday, December 6th. CIBC upgraded shares of North American Construction Group from a “neutral” rating to an “outperform” rating and raised their price target for the company from C$30.00 to C$38.00 in a report on Thursday, December 5th. Finally, ATB Capital cut their price target on shares of North American Construction Group from C$40.00 to C$38.00 in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, North American Construction Group currently has an average rating of “Buy” and a consensus price target of C$37.63.

North American Construction Group Price Performance

North American Construction Group stock opened at C$30.07 on Tuesday. The firm’s 50-day moving average is C$29.38 and its two-hundred day moving average is C$27.05. The company has a debt-to-equity ratio of 210.33, a current ratio of 1.03 and a quick ratio of 0.79. North American Construction Group has a 12-month low of C$22.68 and a 12-month high of C$34.87. The stock has a market capitalization of C$803.77 million, a P/E ratio of 16.43, a P/E/G ratio of 0.79 and a beta of 1.59.

North American Construction Group (TSE:NOA) (NYSE:NOA) last released its earnings results on Wednesday, October 30th. The company reported C$1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.10 by C$0.02. North American Construction Group had a net margin of 4.99% and a return on equity of 15.19%. The business had revenue of C$286.86 million for the quarter, compared to analysts’ expectations of C$294.95 million. During the same period last year, the company earned $0.50 earnings per share. Equities analysts predict that North American Construction Group will post 4.0597484 earnings per share for the current year.

Insider Activity

In other news, Director Martin Robert Ferron sold 6,209 shares of North American Construction Group stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of C$31.60, for a total transaction of C$196,204.40. Insiders own 8.93% of the company’s stock.

About North American Construction Group

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.