North American Construction Group (TSE:NOA) Reaches New 1-Year Low After Analyst Downgrade

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) hit a new 52-week low on Thursday after Ventum Financial lowered their price target on the stock from C$45.00 to C$42.00. Ventum Financial currently has a buy rating on the stock. North American Construction Group traded as low as C$21.88 and last traded at C$23.96, with a volume of 49470 shares. The stock had previously closed at C$24.87.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut their price objective on North American Construction Group from C$35.00 to C$34.00 in a research report on Thursday. Canaccord Genuity Group increased 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. Raymond James raised 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. National Bankshares reduced their target price on shares of North American Construction Group from C$44.00 to C$41.00 and set an “outperform” rating for the company in a research report on Friday. Finally, CIBC raised shares of North American Construction Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$30.00 to C$38.00 in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$37.38.

Insider Buying and Selling at North American Construction Group

In related news, Director Martin Robert Ferron sold 6,209 shares of the business’s stock in a transaction that occurred on Wednesday, January 1st. The shares were sold at an average price of C$31.60, for a total transaction of C$196,204.40. Insiders own 8.93% of the company’s stock.

North American Construction Group Price Performance

The company has a debt-to-equity ratio of 212.25, a quick ratio of 0.79 and a current ratio of 1.13. The stock has a market capitalization of C$618.32 million, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. The business’s 50-day moving average price is C$26.52 and its 200 day moving average price is C$27.02.

North American Construction Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, April 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.48 annualized dividend and a dividend yield of 2.08%. North American Construction Group’s payout ratio is currently 18.81%.

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.