North American Construction Group (NYSE:NOA) Rating Increased to Buy at TD Cowen

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

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

North American Construction Group Trading Down 0.4 %

Shares of NYSE:NOA opened at $20.56 on Thursday. North American Construction Group has a 12 month low of $18.02 and a 12 month high of $26.30. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.71. The company’s fifty day simple moving average is $23.39 and its 200 day simple moving average is $21.92. The firm has a market cap of $549.77 million, a price-to-earnings ratio of 13.18 and a beta of 1.53.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Cannell Capital LLC grew its position in North American Construction Group by 1.5% in the first quarter. Cannell Capital LLC now owns 2,589,786 shares of the oil and gas company’s stock valued at $37,397,000 after purchasing an additional 37,106 shares in the last quarter. Mackenzie Financial Corp grew its position in North American Construction Group by 1.0% in the fourth quarter. Mackenzie Financial Corp now owns 1,395,919 shares of the oil and gas company’s stock valued at $29,143,000 after purchasing an additional 14,109 shares in the last quarter. Renaissance Technologies LLC grew its position in North American Construction Group by 59.5% in the first quarter. Renaissance Technologies LLC now owns 771,400 shares of the oil and gas company’s stock valued at $11,156,000 after purchasing an additional 287,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of North American Construction Group by 101.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,500 shares of the oil and gas company’s stock valued at $11,819,000 after acquiring an additional 274,600 shares during the period. Finally, Fiera Capital Corp grew its position in shares of North American Construction Group by 5.8% in the 3rd quarter. Fiera Capital Corp now owns 526,690 shares of the oil and gas company’s stock valued at $11,444,000 after acquiring an additional 28,897 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.