ATB Capital Issues Pessimistic Forecast for North American Construction Group (TSE:NOA) Stock Price

North American Construction Group (TSE:NOA) (NYSE:NOA) had its target price lowered by equities research analysts at ATB Capital from C$40.00 to C$38.00 in a note issued to investors on Friday, BayStreet.CA reports. ATB Capital’s price target indicates a potential upside of 38.33% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Raymond James dropped their price target on shares of North American Construction Group from C$40.00 to C$35.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. BMO Capital Markets dropped their price target on shares of North American Construction Group from C$37.00 to C$32.00 in a research report on Thursday, August 1st. National Bankshares lifted their price target on shares of North American Construction Group from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Friday. Ventum Financial dropped their price target on shares of North American Construction Group from C$52.00 to C$47.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, TD Securities dropped their price target on shares of North American Construction Group from C$34.00 to C$33.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$36.25.

North American Construction Group Stock Performance

NOA stock traded up C$0.32 during mid-day trading on Friday, hitting C$27.47. 108,570 shares of the company were exchanged, compared to its average volume of 67,655. The business has a 50 day simple moving average of C$25.15 and a 200-day simple moving average of C$26.59. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 210.33. The stock has a market capitalization of C$734.27 million, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. North American Construction Group has a 1-year low of C$22.68 and a 1-year high of C$34.87.

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

Insider Buying and Selling at North American Construction Group

In related news, Director Maryse C. Saint-Laurent bought 2,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of C$25.88 per share, with a total value of C$51,760.00. In related news, Director Maryse C. Saint-Laurent bought 2,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of C$25.88 per share, with a total value of C$51,760.00. Also, Director Martin Robert Ferron bought 7,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of C$23.70 per share, for a total transaction of C$165,900.00. Insiders bought a total of 12,000 shares of company stock worth $290,121 over the last three months. Corporate insiders own 8.93% 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.