North American Construction Group (NYSE:NOA) Stock Rating Upgraded by CIBC

North American Construction Group (NYSE:NOA) (TSE:NOA) was upgraded by stock analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a report released on Thursday,Briefing.com Automated Import reports.

North American Construction Group Stock Up 1.9 %

Shares of NOA stock traded up $0.39 during trading hours on Thursday, reaching $20.59. 26,516 shares of the stock were exchanged, compared to its average volume of 64,003. North American Construction Group has a 12-month low of $16.46 and a 12-month high of $25.92. The business’s fifty day moving average is $19.04 and its two-hundred day moving average is $19.24. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.13 and a quick ratio of 0.88. The firm has a market capitalization of $573.02 million, a P/E ratio of 14.30 and a beta of 1.49.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NOA. Millennium Management LLC boosted its holdings in shares of North American Construction Group by 240.4% in the 2nd quarter. Millennium Management LLC now owns 225,336 shares of the oil and gas company’s stock valued at $4,344,000 after purchasing an additional 159,142 shares during the last quarter. CIBC Asset Management Inc lifted its position in North American Construction Group by 13.9% during the second quarter. CIBC Asset Management Inc now owns 1,154,556 shares of the oil and gas company’s stock valued at $22,249,000 after buying an additional 140,562 shares in the last quarter. Bank of Montreal Can grew its stake in North American Construction Group by 15.3% during the third quarter. Bank of Montreal Can now owns 2,154,347 shares of the oil and gas company’s stock worth $40,519,000 after buying an additional 285,225 shares during the period. Intact Investment Management Inc. increased its position in shares of North American Construction Group by 23.7% in the second quarter. Intact Investment Management Inc. now owns 213,300 shares of the oil and gas company’s stock worth $4,113,000 after acquiring an additional 40,900 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of North American Construction Group by 75.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 58,322 shares of the oil and gas company’s stock valued at $1,124,000 after acquiring an additional 25,003 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

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.