Cibc World Mkts Upgrades North American Construction Group (TSE:NOA) to Strong-Buy

North American Construction Group (TSE:NOA) (NYSE:NOA) was upgraded by stock analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Canaccord Genuity Group upped their target price on shares of North American Construction Group from C$30.00 to C$32.00 and gave the company a “buy” rating in a report on Friday, November 1st. CIBC raised shares of North American Construction Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from C$30.00 to C$38.00 in a research report on Thursday. National Bankshares raised their target price on shares of North American Construction Group from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, ATB Capital cut their price target on North American Construction Group from C$40.00 to C$38.00 in a report on Friday, November 1st. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$37.63.

North American Construction Group Stock Performance

North American Construction Group stock opened at C$29.40 on Thursday. The company has a debt-to-equity ratio of 210.33, a quick ratio of 0.79 and a current ratio of 1.03. North American Construction Group has a fifty-two week low of C$22.68 and a fifty-two week high of C$34.87. The stock has a fifty day moving average of C$26.56 and a two-hundred day moving average of C$26.50. The company has a market capitalization of C$785.86 million, a price-to-earnings ratio of 16.07, a PEG ratio of 0.79 and a beta of 1.59.

Insider Buying and Selling at North American Construction Group

In related news, Director Martin Robert Ferron purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of C$24.15 per share, for a total transaction of C$72,460.80. Insiders have purchased a total of 11,900 shares of company stock worth $320,617 in the last quarter. 8.93% of the stock is owned by insiders.

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.