North American Construction Group (NYSE:NOA) Stock Price Down 4% – Here’s What Happened

Shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) fell 4% during mid-day trading on Thursday . The stock traded as low as $19.25 and last traded at $18.96. 6,322 shares changed hands during trading, a decline of 89% from the average session volume of 56,885 shares. The stock had previously closed at $19.75.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NOA shares. Raymond James upgraded North American Construction Group from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, January 21st. CIBC raised North American Construction Group from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, December 5th. Finally, Cibc World Mkts raised North American Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, North American Construction Group has an average rating of “Buy”.

North American Construction Group Price Performance

The business has a fifty day simple moving average of $20.65 and a 200-day simple moving average of $19.47. The stock has a market capitalization of $528.74 million, a P/E ratio of 13.22 and a beta of 1.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.88 and a current ratio of 1.13.

Institutional Investors Weigh In On North American Construction Group

Several hedge funds and other institutional investors have recently bought and sold shares of NOA. Public Employees Retirement System of Ohio purchased a new stake in North American Construction Group in the 3rd quarter valued at $185,000. Stephens Inc. AR purchased a new stake in shares of North American Construction Group in the fourth quarter valued at about $204,000. Geode Capital Management LLC lifted its position in shares of North American Construction Group by 14.9% during 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 purchasing an additional 1,838 shares in the last quarter. PDT Partners LLC lifted its position in shares of North American Construction Group by 45.6% during the third quarter. PDT Partners LLC now owns 17,155 shares of the oil and gas company’s stock valued at $321,000 after purchasing an additional 5,371 shares in the last quarter. Finally, Tranquility Partners LLC boosted its holdings in North American Construction Group by 11.5% during the fourth quarter. Tranquility Partners LLC now owns 14,926 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 1,538 shares during the last quarter. 74.99% of the stock is owned by 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.