TD Cowen Upgrades North American Construction Group (NYSE:NOA) to Buy

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat reports.

Separately, StockNews.com upgraded North American Construction Group from a “hold” rating to a “buy” rating in a research report on Monday, March 11th.

North American Construction Group Stock Performance

NYSE NOA opened at $20.79 on Thursday. North American Construction Group has a 1 year low of $17.90 and a 1 year high of $26.30. The firm has a market capitalization of $555.92 million, a price-to-earnings ratio of 13.33 and a beta of 1.53. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 1.71. The firm’s 50 day simple moving average is $23.50 and its 200 day simple moving average is $21.93.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Wednesday, March 13th. The oil and gas company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The firm had revenue of $239.70 million for the quarter, compared to the consensus estimate of $229.31 million. North American Construction Group had a return on equity of 22.18% and a net margin of 6.60%. As a group, research analysts expect that North American Construction Group will post 2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On North American Construction Group

A number of institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd lifted its stake in shares of North American Construction Group by 16.9% in the fourth quarter. Quadrature Capital Ltd now owns 350,121 shares of the oil and gas company’s stock worth $7,322,000 after acquiring an additional 50,721 shares during the period. Legal & General Group Plc lifted its position in shares of North American Construction Group by 6.4% in the 4th quarter. Legal & General Group Plc now owns 18,373 shares of the oil and gas company’s stock worth $385,000 after purchasing an additional 1,100 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of North American Construction Group in the 4th quarter valued at $417,000. Prelude Capital Management LLC increased its position in shares of North American Construction Group by 8.7% during the fourth quarter. Prelude Capital Management LLC now owns 163,208 shares of the oil and gas company’s stock worth $3,403,000 after buying an additional 13,130 shares during the period. Finally, Cannell Capital LLC raised its stake in North American Construction Group by 7.2% during the fourth quarter. Cannell Capital LLC now owns 1,478,914 shares of the oil and gas company’s stock worth $30,835,000 after buying an additional 98,926 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.

About North American Construction Group

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.