North American Construction Group Ltd (NYSE:NOA) Given Consensus Recommendation of “Buy” by Brokerages

North American Construction Group Ltd (NYSE:NOA) (TSE:NOA) has been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $13.00.

A number of equities research analysts recently weighed in on NOA shares. ValuEngine cut shares of North American Construction Group from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Zacks Investment Research raised shares of North American Construction Group from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Thursday, August 8th.

Several large investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. raised its holdings in shares of North American Construction Group by 113.8% in the second quarter. Polar Asset Management Partners Inc. now owns 1,337,818 shares of the oil and gas company’s stock valued at $14,448,000 after buying an additional 712,015 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of North American Construction Group in the second quarter valued at about $1,023,000. Marshall Wace North America L.P. purchased a new stake in shares of North American Construction Group in the second quarter valued at about $263,000. Tranquility Partners LLC purchased a new stake in shares of North American Construction Group in the second quarter valued at about $395,000. Finally, Greenwood Capital Associates LLC raised its holdings in shares of North American Construction Group by 46.8% in the second quarter. Greenwood Capital Associates LLC now owns 24,358 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 7,765 shares during the last quarter. 55.97% of the stock is owned by institutional investors and hedge funds.

NOA traded down $0.10 on Friday, reaching $11.96. The company had a trading volume of 109,526 shares, compared to its average volume of 135,242. North American Construction Group has a 1 year low of $7.82 and a 1 year high of $13.62. The stock has a market capitalization of $329.78 million, a PE ratio of 28.48 and a beta of 0.60. The company has a quick ratio of 0.72, a current ratio of 0.83 and a debt-to-equity ratio of 2.04. The stock has a 50-day moving average price of $12.02 and a 200-day moving average price of $11.60.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $0.27 earnings per share for the quarter. North American Construction Group had a net margin of 4.33% and a return on equity of 18.75%. The firm had revenue of $132.28 million during the quarter. As a group, analysts expect that North American Construction Group will post 1.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Saturday, August 31st will be given a $0.015 dividend. The ex-dividend date is Thursday, August 29th. This is a boost from North American Construction Group’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 0.50%. North American Construction Group’s payout ratio is 28.57%.

About North American Construction Group

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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