North American Construction Group (NOA) Receives New Coverage from Analysts at CIBC

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Stock analysts at CIBC initiated coverage on shares of North American Construction Group (NYSE:NOA) (TSE:NOA) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “sector outperform” rating on the oil and gas company’s stock.

A number of other brokerages also recently weighed in on NOA. National Bank Financial reissued a “buy” rating on shares of North American Construction Group in a research note on Tuesday, April 2nd. Zacks Investment Research raised North American Construction Group from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, March 5th. Finally, ValuEngine raised North American Construction Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Five equities research analysts have rated the stock with a buy rating, North American Construction Group presently has an average rating of “Buy” and an average price target of $14.00.

Shares of North American Construction Group stock traded up $0.13 during trading on Tuesday, hitting $12.30. 141,872 shares of the stock traded hands, compared to its average volume of 103,533. The firm has a market cap of $330.05 million, a price-to-earnings ratio of 29.29 and a beta of 0.43. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.88 and a quick ratio of 0.79. North American Construction Group has a twelve month low of $5.35 and a twelve month high of $13.27.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings data on Monday, February 25th. The oil and gas company reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. North American Construction Group had a return on equity of 10.55% and a net margin of 3.89%. The business had revenue of $99.13 million for the quarter, compared to the consensus estimate of $68.30 million. As a group, equities research analysts predict that North American Construction Group will post 1.16 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of North American Construction Group by 10.9% in the 3rd quarter. Renaissance Technologies LLC now owns 1,156,300 shares of the oil and gas company’s stock valued at $11,331,000 after acquiring an additional 113,400 shares in the last quarter. Morgan Stanley increased its position in North American Construction Group by 16.7% in the 3rd quarter. Morgan Stanley now owns 398,898 shares of the oil and gas company’s stock worth $3,909,000 after buying an additional 57,050 shares during the period. K.J. Harrison & Partners Inc increased its position in North American Construction Group by 7.5% in the 4th quarter. K.J. Harrison & Partners Inc now owns 322,700 shares of the oil and gas company’s stock worth $2,873,000 after buying an additional 22,400 shares during the period. O Shaughnessy Asset Management LLC bought a new position in North American Construction Group in the 4th quarter worth approximately $2,312,000. Finally, Intact Investment Management Inc. increased its position in North American Construction Group by 15.6% in the 4th quarter. Intact Investment Management Inc. now owns 205,567 shares of the oil and gas company’s stock worth $2,446,000 after buying an additional 27,800 shares during the period. 54.72% of the stock is currently owned by institutional investors and hedge funds.

North American Construction Group Company Profile

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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