Raymond James Upgrades North American Construction Group (TSE:NOA) to “Strong-Buy”

North American Construction Group (TSE:NOA) (NYSE:NOA) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Thursday,BayStreet.CA reports. The firm presently has a C$40.00 price objective on the stock. Raymond James’ price target suggests a potential upside of 44.93% from the stock’s current price.

NOA has been the subject of a number of other research reports. CIBC upgraded shares of North American Construction Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$30.00 to C$38.00 in a report on Thursday, December 5th. National Bankshares reduced their price objective on North American Construction Group from C$45.00 to C$44.00 and set an “outperform” rating on the stock in a research report on Thursday. ATB Capital cut their target price on North American Construction Group from C$40.00 to C$38.00 in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price target on shares of North American Construction Group from C$32.00 to C$33.00 in a research report on Friday, December 6th. Finally, Cibc World Mkts upgraded shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$38.13.

North American Construction Group Stock Performance

TSE NOA opened at C$27.60 on Thursday. The company has a debt-to-equity ratio of 210.33, a current ratio of 1.03 and a quick ratio of 0.79. The stock’s 50 day simple moving average is C$29.53 and its 200-day simple moving average is C$27.15. The company has a market cap of C$737.75 million, a PE ratio of 15.08, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. North American Construction Group has a 1-year low of C$22.68 and a 1-year high of C$34.87.

North American Construction Group (TSE:NOA) (NYSE:NOA) last announced its earnings results on Wednesday, October 30th. The company reported C$1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.10 by C$0.02. The company had revenue of C$286.86 million for the quarter, compared to analysts’ expectations of C$294.95 million. North American Construction Group had a net margin of 4.99% and a return on equity of 15.19%. During the same quarter in the previous year, the company posted $0.50 EPS. As a group, equities research analysts anticipate that North American Construction Group will post 4.0597484 EPS for the current fiscal year.

Insider Buying and Selling

In other North American Construction Group news, Director Martin Robert Ferron sold 6,209 shares of the stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of C$31.60, for a total transaction of C$196,204.40. 8.93% of the stock is owned by corporate insiders.

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.