North American Construction Group (TSE:NOA) Upgraded to “Outperform” at CIBC

North American Construction Group (TSE:NOA) (NYSE:NOA) was upgraded by analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a C$38.00 price objective on the stock, up from their prior price objective of C$30.00. CIBC’s price target points to a potential upside of 28.25% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. ATB Capital decreased their price objective on shares of North American Construction Group from C$40.00 to C$38.00 in a report on Friday, November 1st. 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 report on Friday, November 1st. Finally, National Bankshares boosted their target price 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$36.88.

North American Construction Group Trading Up 4.1 %

Shares of NOA traded up C$1.16 during trading hours on Thursday, reaching C$29.63. 149,348 shares of the company traded hands, compared to its average volume of 67,085. The company’s fifty day moving average price is C$26.40 and its two-hundred day moving average price is C$26.47. The company has a market capitalization of C$792.01 million, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 210.33. North American Construction Group has a 12 month low of C$22.68 and a 12 month high of C$34.87.

Insiders Place Their Bets

In other North American Construction Group news, Director Martin Robert Ferron purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of C$24.15 per share, with a total value of C$72,460.80. Insiders have acquired a total of 11,900 shares of company stock worth $320,617 in the last three months. 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.