North American Construction Group (NYSE:NOA) Upgraded to Buy at Canaccord Genuity Group

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports.

Other research analysts also recently issued reports about the company. Roth Mkm assumed coverage on North American Construction Group in a report on Thursday, February 5th. They set a “buy” rating and a $25.00 target price on the stock. BMO Capital Markets downgraded North American Construction Group from an “outperform” rating to a “market perform” rating in a research report on Thursday. ATB Cormark Capital Markets reaffirmed a “sector perform” rating on shares of North American Construction Group in a research note on Friday, December 19th. Wall Street Zen upgraded North American Construction Group from a “hold” rating to a “buy” rating in a report on Saturday, January 24th. Finally, Loop Capital set a $24.00 target price on shares of North American Construction Group in a research report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.50.

North American Construction Group Price Performance

Shares of NYSE NOA traded up $0.69 during midday trading on Friday, reaching $12.79. The company’s stock had a trading volume of 242,927 shares, compared to its average volume of 117,871. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.73 and a current ratio of 0.91. North American Construction Group has a fifty-two week low of $12.07 and a fifty-two week high of $18.24. The business’s 50 day moving average price is $15.74 and its two-hundred day moving average price is $14.64. The company has a market cap of $367.60 million, a P/E ratio of 15.99 and a beta of 1.09.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NOA. Bank of Montreal Can increased its position in shares of North American Construction Group by 3.1% during the fourth quarter. Bank of Montreal Can now owns 2,789,384 shares of the oil and gas company’s stock worth $40,158,000 after acquiring an additional 84,992 shares in the last quarter. Claret Asset Management Corp lifted its position in North American Construction Group by 0.7% in the 2nd quarter. Claret Asset Management Corp now owns 2,064,325 shares of the oil and gas company’s stock valued at $33,026,000 after acquiring an additional 14,686 shares in the last quarter. CIBC Asset Management Inc boosted its stake in North American Construction Group by 22.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company’s stock valued at $20,812,000 after purchasing an additional 262,673 shares during the last quarter. Aegis Financial Corp boosted its stake in North American Construction Group by 23.3% during the 4th quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company’s stock valued at $14,967,000 after purchasing an additional 196,243 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in North American Construction Group during the 4th quarter worth approximately $8,475,000. 74.99% of the stock is owned by institutional investors.

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.