North American Construction Group (NYSE:NOA) Trading Down 4% – Here’s What Happened

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s stock price fell 4% on Thursday . The stock traded as low as $19.25 and last traded at $18.96. 6,322 shares traded hands during trading, a decline of 89% from the average session volume of 56,885 shares. The stock had previously closed at $19.75.

Analyst Ratings Changes

Several research analysts recently commented on NOA shares. Cibc World Mkts raised North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. Raymond James raised shares of North American Construction Group from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, CIBC raised shares of North American Construction Group from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

North American Construction Group Stock Down 1.2 %

The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. The business has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $19.48. The stock has a market capitalization of $542.07 million, a P/E ratio of 13.53 and a beta of 1.46.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in shares of North American Construction Group in the third quarter worth about $185,000. Stephens Inc. AR bought a new stake in shares of North American Construction Group during the fourth quarter worth $204,000. Geode Capital Management LLC lifted its stake in shares of North American Construction Group by 14.9% during the third quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company’s stock valued at $264,000 after acquiring an additional 1,838 shares during the period. PDT Partners LLC boosted its holdings in North American Construction Group by 45.6% in the third quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company’s stock valued at $321,000 after acquiring an additional 5,371 shares during the last quarter. Finally, Tranquility Partners LLC increased its position in North American Construction Group by 11.5% in the fourth quarter. Tranquility Partners LLC now owns 14,926 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 1,538 shares during the period. 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.