CIBC Initiates Coverage on North American Construction Group (NOA)

Research analysts at CIBC assumed coverage on shares of North American Construction Group (NYSE:NOA) (TSE:NOA) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “sector outperform” rating on the oil and gas company’s stock.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded North American Construction Group from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, March 5th. National Bank Financial reiterated a “buy” rating on shares of North American Construction Group in a research report on Tuesday, April 2nd. Finally, ValuEngine upgraded North American Construction Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Five investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $14.00.

North American Construction Group stock opened at $12.30 on Tuesday. The company has a market capitalization of $330.05 million, a PE ratio of 29.29 and a beta of 0.43. North American Construction Group has a 12 month low of $5.35 and a 12 month high of $13.27. 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 (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings data on Monday, February 25th. The oil and gas company reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. The business had revenue of $99.13 million during the quarter, compared to analysts’ expectations of $68.30 million. North American Construction Group had a return on equity of 10.55% and a net margin of 3.89%. As a group, equities analysts predict that North American Construction Group will post 1.16 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOA. JPMorgan Chase & Co. boosted its stake in North American Construction Group by 44.6% during the third quarter. JPMorgan Chase & Co. now owns 179,827 shares of the oil and gas company’s stock worth $1,762,000 after buying an additional 55,482 shares during the last quarter. Renaissance Technologies LLC boosted its stake in North American Construction Group by 10.9% during the third quarter. Renaissance Technologies LLC now owns 1,156,300 shares of the oil and gas company’s stock worth $11,331,000 after buying an additional 113,400 shares during the last quarter. Jane Street Group LLC acquired a new position in North American Construction Group during the third quarter worth $126,000. Morgan Stanley boosted its stake in North American Construction Group by 16.7% during the third 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 last quarter. Finally, Marshall Wace LLP acquired a new position in North American Construction Group during the third quarter worth $408,000. 54.72% of the stock is currently owned by institutional investors.

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.

Recommended Story: What is a Swap?

Receive News & Ratings for North American Construction Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for North American Construction Group and related companies with MarketBeat.com's FREE daily email newsletter.