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

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

Separately, CIBC raised shares of North American Construction Group from a “neutral” rating to a “sector outperform” rating in a research note on Thursday.

North American Construction Group Stock Performance

Shares of NOA stock opened at $20.76 on Thursday. The stock’s 50-day moving average is $19.13 and its two-hundred day moving average is $19.26. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.88 and a current ratio of 1.13. North American Construction Group has a 1 year low of $16.46 and a 1 year high of $25.92. The firm has a market cap of $577.55 million, a price-to-earnings ratio of 14.41 and a beta of 1.49.

Institutional Trading of North American Construction Group

Several institutional investors and hedge funds have recently made changes to their positions in NOA. Public Employees Retirement System of Ohio purchased a new position in shares of North American Construction Group in the 3rd quarter worth about $185,000. Geode Capital Management LLC raised its holdings in North American Construction Group by 14.9% in the third quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 1,838 shares during the period. PDT Partners LLC raised its holdings in North American Construction Group by 45.6% in the third quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company’s stock valued at $321,000 after buying an additional 5,371 shares during the period. Barclays PLC lifted its position in North American Construction Group by 48.1% during the third quarter. Barclays PLC now owns 20,867 shares of the oil and gas company’s stock valued at $390,000 after buying an additional 6,774 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in North American Construction Group by 2.4% during the second quarter. TD Asset Management Inc now owns 24,688 shares of the oil and gas company’s stock worth $476,000 after buying an additional 571 shares during the period. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

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.