North American Construction Group (TSE:NOA) Shares Pass Above 200-Day Moving Average – Here’s What Happened

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.59 and traded as high as C$30.63. North American Construction Group shares last traded at C$30.61, with a volume of 66,186 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. CIBC upgraded North American Construction Group from a “neutral” rating to an “outperform” rating and raised their price target for the company from C$30.00 to C$38.00 in a research note on Thursday, December 5th. ATB Capital cut their price target on North American Construction Group from C$40.00 to C$38.00 in a research note on Friday, November 1st. Raymond James raised their price target on North American Construction Group from C$35.00 to C$40.00 in a research note 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. Finally, National Bankshares raised their price target on North American Construction Group from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$37.63.

North American Construction Group Price Performance

The stock has a market cap of C$820.61 million, a price-to-earnings ratio of 16.78, a PEG ratio of 0.79 and a beta of 1.59. The company has a 50-day moving average of C$27.49 and a 200-day moving average of C$26.65. The company has a debt-to-equity ratio of 210.33, a quick ratio of 0.79 and a current ratio of 1.03.

North American Construction Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, January 3rd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.56%. The ex-dividend date is Wednesday, November 27th. This is a boost from North American Construction Group’s previous quarterly dividend of $0.10. North American Construction Group’s payout ratio is 21.86%.

Insider Activity at North American Construction Group

In other North American Construction Group news, Director Martin Robert Ferron acquired 6,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of C$27.98 per share, with a total value of C$167,884.20. 8.93% of the stock is currently owned by insiders.

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.