North American Construction Group (NYSE:NOA) Rating Increased to Strong-Buy at Raymond James

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by investment analysts at Raymond James from a “moderate buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. CIBC raised shares of North American Construction Group from a “neutral” rating to a “sector outperform” rating in a report on Thursday, December 5th. Cibc World Mkts raised shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

North American Construction Group Price Performance

Shares of NOA stock opened at $20.87 on Tuesday. North American Construction Group has a 52 week low of $16.46 and a 52 week high of $25.92. The stock has a market capitalization of $579.77 million, a PE ratio of 14.49 and a beta of 1.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.88 and a current ratio of 1.13. The stock’s fifty day moving average is $20.64 and its 200-day moving average is $19.45.

Institutional Trading of North American Construction Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOA. American Century Companies Inc. boosted its stake in shares of North American Construction Group by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 228,740 shares of the oil and gas company’s stock valued at $4,411,000 after purchasing an additional 13,559 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in North American Construction Group by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 154,078 shares of the oil and gas company’s stock valued at $2,971,000 after buying an additional 5,567 shares during the period. Bank of Montreal Can boosted its stake in North American Construction Group by 3.3% in the second quarter. Bank of Montreal Can now owns 1,869,122 shares of the oil and gas company’s stock valued at $37,727,000 after acquiring an additional 59,046 shares during the last quarter. Marshall Wace LLP grew its holdings in North American Construction Group by 26.7% during the 2nd quarter. Marshall Wace LLP now owns 144,838 shares of the oil and gas company’s stock worth $2,792,000 after acquiring an additional 30,535 shares during the period. Finally, AYAL Capital Advisors Ltd bought a new stake in shares of North American Construction Group during the 2nd quarter valued at $7,375,000. 74.99% of the stock is currently owned by institutional investors and hedge funds.

North American Construction Group Company Profile

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment – Canada, Heavy Equipment – Australia, and Other segments.