National Bankshares Issues Pessimistic Forecast for North American Construction Group (TSE:NOA) Stock Price

North American Construction Group (TSE:NOA) (NYSE:NOA) had its target price reduced by research analysts at National Bankshares from C$44.00 to C$41.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target points to a potential upside of 76.50% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group boosted their price target on shares of North American Construction Group from C$32.00 to C$33.00 in a research note on Friday, December 6th. Cibc World Mkts upgraded North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. BMO Capital Markets cut their price target on shares of North American Construction Group from C$35.00 to C$34.00 in a report on Thursday. CIBC upgraded North American Construction Group from a “neutral” rating to an “outperform” rating and upped their price target for the stock from C$30.00 to C$38.00 in a report on Thursday, December 5th. Finally, Raymond James raised shares of North American Construction Group from an “outperform” rating to a “strong-buy” rating and set a C$40.00 price objective on the stock in a research note on Thursday, January 30th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, North American Construction Group presently has a consensus rating of “Buy” and a consensus target price of C$37.38.

North American Construction Group Price Performance

TSE NOA traded down C$0.45 during mid-day trading on Friday, hitting C$23.23. The stock had a trading volume of 88,216 shares, compared to its average volume of 84,174. The company has a debt-to-equity ratio of 212.25, a current ratio of 1.13 and a quick ratio of 0.79. North American Construction Group has a twelve month low of C$21.88 and a twelve month high of C$31.91. The firm’s 50 day moving average is C$26.65 and its 200 day moving average is C$27.04. The stock has a market capitalization of C$621.80 million, a price-to-earnings ratio of 10.92, a PEG ratio of 0.79 and a beta of 1.59.

Insider Activity

In related news, Director Martin Robert Ferron sold 6,209 shares of North American Construction Group stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of C$31.60, for a total transaction of C$196,204.40. Corporate insiders own 8.93% 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.