North American Construction Group (NYSE:NOA) Price Target Raised to C$24.00 at Maxim Group

North American Construction Group (NYSE:NOA) (TSE:NOA) had its price target lifted by investment analysts at Maxim Group from C$23.00 to C$24.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock.

Several other equities analysts also recently weighed in on the company. TheStreet upgraded North American Construction Group from a “c+” rating to a “b-” rating in a research report on Monday, May 17th. TD Securities raised their target price on shares of North American Construction Group from C$17.00 to C$18.00 and gave the stock a “hold” rating in a research report on Friday. BMO Capital Markets upped their price target on shares of North American Construction Group from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 2nd. Raymond James increased their price target on shares of North American Construction Group from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Zacks Investment Research cut shares of North American Construction Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. North American Construction Group has a consensus rating of “Buy” and a consensus target price of $18.44.

Shares of NYSE NOA traded up $0.78 during midday trading on Friday, reaching $14.93. 2,718 shares of the stock were exchanged, compared to its average volume of 69,917. The stock’s 50 day simple moving average is $12.72. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market capitalization of $446.60 million, a P/E ratio of 12.29 and a beta of 1.46. North American Construction Group has a 52-week low of $5.58 and a 52-week high of $14.48.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its earnings results on Wednesday, April 28th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.25. The firm had revenue of $132.99 million for the quarter, compared to analyst estimates of $138.15 million. North American Construction Group had a net margin of 10.49% and a return on equity of 20.78%. Research analysts predict that North American Construction Group will post 1.43 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in shares of North American Construction Group by 9.3% in the first quarter. Janney Montgomery Scott LLC now owns 15,262 shares of the oil and gas company’s stock worth $164,000 after buying an additional 1,299 shares during the period. Stephens Inc. AR lifted its position in shares of North American Construction Group by 39.1% during the first quarter. Stephens Inc. AR now owns 15,014 shares of the oil and gas company’s stock worth $161,000 after purchasing an additional 4,221 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of North American Construction Group by 31.2% in the first quarter. Toronto Dominion Bank now owns 18,183 shares of the oil and gas company’s stock valued at $196,000 after purchasing an additional 4,325 shares during the period. Dimensional Fund Advisors LP grew its holdings in North American Construction Group by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 93,252 shares of the oil and gas company’s stock valued at $1,002,000 after purchasing an additional 7,108 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in North American Construction Group during the 4th quarter worth $100,000. Institutional investors own 45.64% of the company’s stock.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy construction services to the resource development and industrial construction sectors in Canada and the United States The company's Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services.

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