Canaccord Genuity Group Forecasts Strong Price Appreciation for North American Construction Group (TSE:NOA) Stock

North American Construction Group (TSE:NOA) (NYSE:NOA) had its target price raised by investment analysts at Canaccord Genuity Group from C$30.00 to C$32.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 16.49% from the stock’s previous close.

Several other research firms also recently weighed in on NOA. National Bankshares raised their price objective on North American Construction Group from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets dropped their price objective on North American Construction Group from C$37.00 to C$32.00 in a research note on Thursday, August 1st. ATB Capital dropped their price objective on North American Construction Group from C$45.00 to C$40.00 in a research note on Friday, August 2nd. Raymond James dropped their price objective on North American Construction Group from C$40.00 to C$35.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, TD Securities dropped their price objective on North American Construction Group from C$34.00 to C$33.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$36.25.

North American Construction Group Stock Performance

Shares of NOA stock traded up C$0.32 during trading hours on Friday, reaching C$27.47. 108,570 shares of the company’s stock were exchanged, compared to its average volume of 67,655. The company has a market cap of C$734.27 million, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. The company’s 50 day moving average is C$25.15 and its two-hundred day moving average is C$26.59. North American Construction Group has a 1 year low of C$22.68 and a 1 year high of C$34.87. The company has a debt-to-equity ratio of 210.33, a current ratio of 1.03 and a quick ratio of 0.79.

North American Construction Group (TSE:NOA) (NYSE:NOA) last issued its earnings results on Wednesday, July 31st. The company reported C$0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.79 by C$0.06. North American Construction Group had a return on equity of 15.19% and a net margin of 4.99%. The business had revenue of C$276.31 million during the quarter, compared to the consensus estimate of C$314.61 million. Equities research analysts anticipate that North American Construction Group will post 4.0597484 EPS for the current fiscal year.

Insider Activity at North American Construction Group

In other news, Director Martin Robert Ferron bought 7,000 shares of North American Construction Group stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of C$23.70 per share, for a total transaction of C$165,900.00. In related news, Director Martin Robert Ferron acquired 7,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of C$23.70 per share, with a total value of C$165,900.00. Also, Director Maryse C. Saint-Laurent acquired 2,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was bought at an average cost of C$25.88 per share, for a total transaction of C$51,760.00. Over the last 90 days, insiders have bought 12,000 shares of company stock worth $290,121. 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.