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

North American Construction Group (TSE:NOA) (NYSE:NOA) was upgraded by equities researchers at CIBC from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a C$38.00 target price on the stock, up from their previous target price of C$30.00. CIBC’s price target would indicate a potential upside of 29.25% from the company’s previous close.

NOA has been the subject of several other reports. Canaccord Genuity Group boosted their price objective on shares of North American Construction Group from C$30.00 to C$32.00 and gave the company a “buy” rating in a research report on Friday, November 1st. National Bankshares boosted their price objective 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, November 1st. Finally, ATB Capital lowered their price objective on shares of North American Construction Group from C$40.00 to C$38.00 in a research report on Friday, November 1st. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$37.63.

North American Construction Group Price Performance

North American Construction Group stock opened at C$29.40 on Thursday. The stock has a market cap of C$785.86 million, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. 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 has a 1 year low of C$22.68 and a 1 year high of C$34.87. The firm has a 50-day moving average of C$26.56 and a two-hundred day moving average of C$26.50.

Insider Activity

In other news, Director Martin Robert Ferron acquired 6,000 shares of North American Construction Group stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of C$27.98 per share, for a total transaction of C$167,884.20. In the last quarter, insiders acquired 11,900 shares of company stock worth $320,617. 8.93% of the stock is currently owned by corporate insiders.

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.