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North American Construction Group Ltd. (NOA) - free report >>
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North American Construction Group Ltd. (NOA) - free report >>
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Is North American Construction (NOA) a Great Value Stock Right Now?
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company value investors might notice is North American Construction (NOA - Free Report) . NOA is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 8.84, which compares to its industry's average of 10.84. NOA's Forward P/E has been as high as 22.74 and as low as 7.01, with a median of 9.66, all within the past year.
Finally, we should also recognize that NOA has a P/CF ratio of 5.17. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. NOA's current P/CF looks attractive when compared to its industry's average P/CF of 7.82. NOA's P/CF has been as high as 6.99 and as low as 3.70, with a median of 4.98, all within the past year.
These are just a handful of the figures considered in North American Construction's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that NOA is an impressive value stock right now.