North American Construction Group Ltd. (NYSE:NOA) Given Average Rating of “Hold” by Brokerages

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) has been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.50.

Several research firms have issued reports on NOA. Wall Street Zen upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 24th. Loop Capital set a $24.00 price target on North American Construction Group in a research note on Friday, December 19th. ATB Cormark Capital Markets reaffirmed a “sector perform” rating on shares of North American Construction Group in a research report on Friday, December 19th. Roth Mkm assumed coverage on shares of North American Construction Group in a report on Thursday, February 5th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Zacks Research cut shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd.

North American Construction Group Stock Performance

Shares of NOA stock opened at $16.35 on Thursday. The company has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $14.43. North American Construction Group has a one year low of $12.12 and a one year high of $19.17. The stock has a market cap of $470.15 million, a P/E ratio of 17.40 and a beta of 1.15. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.91 and a quick ratio of 0.73.

Institutional Trading of North American Construction Group

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in North American Construction Group by 63.0% in the 4th quarter. Mackenzie Financial Corp now owns 25,836 shares of the oil and gas company’s stock valued at $368,000 after buying an additional 9,981 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of North American Construction Group by 1.3% in the fourth quarter. SkyView Investment Advisors LLC now owns 73,616 shares of the oil and gas company’s stock valued at $1,058,000 after acquiring an additional 955 shares during the period. Quadrature Capital Ltd acquired a new position in shares of North American Construction Group in the fourth quarter valued at about $1,705,000. Millennium Management LLC acquired a new position in shares of North American Construction Group in the fourth quarter valued at about $4,877,000. Finally, Boothbay Fund Management LLC increased its position in North American Construction Group by 24.0% during the fourth quarter. Boothbay Fund Management LLC now owns 20,715 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 4,006 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.

About North American Construction Group

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.