North American Construction Group (NYSE:NOA) Rating Increased to Buy at StockNews.com

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

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

North American Construction Group Trading Up 1.4 %

NYSE NOA opened at $19.35 on Thursday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.81 and a current ratio of 1.04. The company has a 50-day simple moving average of $20.11 and a 200-day simple moving average of $21.81. The firm has a market capitalization of $517.42 million, a PE ratio of 14.66 and a beta of 1.50. North American Construction Group has a one year low of $18.30 and a one year high of $26.30.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The firm had revenue of $220.33 million for the quarter, compared to analyst estimates of $217.28 million. North American Construction Group had a net margin of 5.21% and a return on equity of 19.48%. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that North American Construction Group will post 2.99 earnings per share for the current year.

Institutional Trading of North American Construction Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cannell Capital LLC raised its holdings in shares of North American Construction Group by 7.2% during the fourth quarter. Cannell Capital LLC now owns 1,478,914 shares of the oil and gas company’s stock valued at $30,835,000 after acquiring an additional 98,926 shares during the period. Mackenzie Financial Corp raised its holdings in shares of North American Construction Group by 1.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,395,919 shares of the oil and gas company’s stock valued at $29,143,000 after acquiring an additional 14,109 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of North American Construction Group by 53.6% during the first quarter. Hillsdale Investment Management Inc. now owns 839,759 shares of the oil and gas company’s stock valued at $18,681,000 after acquiring an additional 293,070 shares during the period. Quadrature Capital Ltd raised its holdings in shares of North American Construction Group by 1.3% during the first quarter. Quadrature Capital Ltd now owns 354,621 shares of the oil and gas company’s stock valued at $7,867,000 after acquiring an additional 4,500 shares during the period. Finally, K.J. Harrison & Partners Inc raised its holdings in shares of North American Construction Group by 69.7% during the first quarter. K.J. Harrison & Partners Inc now owns 214,700 shares of the oil and gas company’s stock valued at $4,773,000 after acquiring an additional 88,200 shares during the period. 74.99% of the stock is currently owned by institutional investors.

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.