North American Construction Group (TSE:NOA) Hits New 52-Week Low on Analyst Downgrade

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) shares hit a new 52-week low during mid-day trading 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.

NOA has been the topic of a number of other research reports. National Bankshares cut their price target on shares of North American Construction Group from C$44.00 to C$41.00 and set an “outperform” rating on the stock in a research report on Friday. Cibc World Mkts upgraded North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. CIBC upgraded North American Construction Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$30.00 to C$38.00 in a report on Thursday, December 5th. Canaccord Genuity Group raised their price objective on shares of North American Construction Group from C$32.00 to C$33.00 in a research report on Friday, December 6th. Finally, BMO Capital Markets dropped their target price on shares of North American Construction Group from C$35.00 to C$34.00 in a research report on Thursday. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$37.38.

Insider Activity at North American Construction Group

In related news, Director Martin Robert Ferron sold 6,209 shares of the firm’s stock in a transaction dated 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 currently owned by insiders.

North American Construction Group Stock Down 2.4 %

The company has a market cap of C$618.32 million, a P/E ratio of 10.86, 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 current ratio of 1.13 and a quick ratio of 0.79. The stock has a fifty day moving average price of C$26.52 and a two-hundred day moving average price of C$27.02.

North American Construction Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, March 13th. North American Construction Group’s dividend payout ratio (DPR) is presently 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.