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

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA)’s stock price reached 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 trading hands. The stock had previously closed at C$24.87.

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

Insiders Place Their Bets

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

North American Construction Group Price Performance

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 company has a 50-day moving average price of C$26.52 and a 200-day moving average price of C$27.02. The firm has a market capitalization of C$618.32 million, a PE ratio of 10.86, a P/E/G ratio of 0.79 and a beta of 1.59.

North American Construction Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, April 9th will be given 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 dividend 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.