North American Construction Group (NYSE:NOA) PT Raised to $9.00

North American Construction Group (NYSE:NOA) (TSE:NOA) had its price objective hoisted by equities research analysts at Raymond James from $8.00 to $9.00 in a report issued on Friday, The Fly reports. The brokerage presently has a “market perform” rating on the oil and gas company’s stock. Raymond James’ price objective would indicate a potential upside of 42.86% from the stock’s current price. Raymond James also issued estimates for North American Construction Group’s Q4 2020 earnings at $0.23 EPS and FY2021 earnings at $1.33 EPS.

NOA has been the topic of several other research reports. ValuEngine lowered North American Construction Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $16.00 target price (down previously from $20.00) on shares of North American Construction Group in a research note on Thursday, May 7th. Zacks Investment Research raised shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 4th. Pi Financial restated a “buy” rating and issued a $17.00 price objective on shares of North American Construction Group in a report on Monday, July 27th. Finally, reaffirmed a “sell” rating on shares of North American Construction Group in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.00.

NOA opened at $6.30 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.80. The stock has a market capitalization of $202.44 million, a P/E ratio of 4.67 and a beta of 1.13. The company’s 50 day simple moving average is $6.11 and its 200-day simple moving average is $7.19. North American Construction Group has a one year low of $4.11 and a one year high of $13.17.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.14. The firm had revenue of $148.24 million for the quarter, compared to the consensus estimate of $145.91 million. North American Construction Group had a return on equity of 26.47% and a net margin of 7.63%. As a group, analysts anticipate that North American Construction Group will post 0.94 EPS for the current year.

A number of large investors have recently modified their holdings of the business. Advisor Group Inc. boosted its position in shares of North American Construction Group by 152.4% during the fourth quarter. Advisor Group Inc. now owns 3,975 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 2,400 shares in the last quarter. Raymond James & Associates lifted its holdings in North American Construction Group by 3.7% during the first quarter. Raymond James & Associates now owns 78,150 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 2,756 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in North American Construction Group in the first quarter valued at about $29,000. Tower Research Capital LLC TRC increased its holdings in shares of North American Construction Group by 10,727.9% in the first quarter. Tower Research Capital LLC TRC now owns 7,363 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 7,295 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of North American Construction Group by 28.9% in the fourth quarter. Geode Capital Management LLC now owns 46,811 shares of the oil and gas company’s stock worth $566,000 after acquiring an additional 10,500 shares in the last quarter. 47.37% of the stock is owned by hedge funds and other institutional investors.

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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