Ventum Financial 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 equities researchers at Ventum Financial from C$45.00 to C$42.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Ventum Financial’s price target suggests a potential upside of 80.80% from the company’s current price.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group upped their price target on shares of North American Construction Group from C$32.00 to C$33.00 in a research report on Friday, December 6th. 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. BMO Capital Markets lowered their price objective on North American Construction Group from C$35.00 to C$34.00 in a research note on Thursday. National Bankshares decreased their price target on North American Construction Group from C$44.00 to C$41.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Raymond James upgraded 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 report on Thursday, January 30th. Six research 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 an average rating of “Buy” and a consensus price target of C$37.38.

North American Construction Group Stock Performance

NOA traded down C$0.45 during trading on Friday, hitting C$23.23. The company’s stock had a trading volume of 88,216 shares, compared to its average volume of 84,174. The firm has a market cap of C$621.80 million, a PE ratio of 10.92, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 212.25. The business’s 50 day simple moving average is C$26.65 and its 200-day simple moving average is C$27.04. North American Construction Group has a one year low of C$21.88 and a one year high of C$31.91.

Insider Buying and Selling

In other news, Director Martin Robert Ferron sold 6,209 shares of the firm’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of C$31.60, for a total value of C$196,204.40. 8.93% of the stock is owned by corporate insiders.

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.