North American Construction Group Ltd. (TSE:NOA) Receives Average Recommendation of “Buy” from Brokerages

Shares of North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) have earned an average recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$37.38.

NOA has been the subject of several research reports. CIBC raised North American Construction Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$30.00 to C$38.00 in a report on Thursday, December 5th. Raymond James raised 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 report on Thursday, January 30th. BMO Capital Markets dropped their price objective on shares of North American Construction Group from C$35.00 to C$34.00 in a report on Thursday, March 20th. Cibc World Mkts upgraded shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Ventum Financial dropped their price target on shares of North American Construction Group from C$45.00 to C$42.00 and set a “buy” rating on the stock in a research note on Friday, March 21st.

North American Construction Group Stock Performance

Shares of NOA stock opened at C$22.90 on Monday. The firm’s 50-day simple moving average is C$25.88 and its two-hundred day simple moving average is C$26.94. 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 has a 52 week low of C$21.88 and a 52 week high of C$31.91. The firm has a market cap of C$612.96 million, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.79 and a beta of 1.59.

North American Construction Group Dividend Announcement

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 is Thursday, March 13th. This represents a $0.48 annualized dividend and a dividend yield of 2.10%. North American Construction Group’s payout ratio is currently 18.81%.

Insider Activity

In other news, Director Martin Robert Ferron purchased 4,000 shares of the stock in a transaction on Monday, March 24th. The shares were acquired at an average price of C$23.31 per share, for a total transaction of C$93,236.00. Corporate insiders own 8.93% of the company’s stock.

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.