North American Construction Group (TSE:NOA) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.17 and traded as low as C$26.30. North American Construction Group shares last traded at C$26.78, with a volume of 103,856 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NOA shares. Canaccord Genuity Group lifted their price objective on shares of North American Construction Group from C$32.00 to C$33.00 in a report on Friday, December 6th. Cibc World Mkts upgraded North American Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 5th. ATB Capital lowered their price target on North American Construction Group from C$40.00 to C$38.00 in a research report on Friday, November 1st. Raymond James upgraded North American Construction Group from an “outperform” rating to a “strong-buy” rating and set a C$40.00 price objective for the company in a research report on Thursday, January 30th. Finally, CIBC raised North American Construction Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$30.00 to C$38.00 in a research note on Thursday, December 5th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$38.13.

North American Construction Group Trading Up 1.2 %

The company has a 50 day simple moving average of C$29.22 and a 200 day simple moving average of C$27.17. The company has a market capitalization of C$716.82 million, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 212.25, a quick ratio of 0.79 and a current ratio of 1.13.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.79%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, November 27th. North American Construction Group’s payout ratio is presently 18.81%.

Insider Buying and Selling at North American Construction Group

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