North American Construction Group Ltd. (NYSE:NOA) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• North American Construction Group has a consensus analyst rating of “Hold”, based on eight ratings firms. The group includes one sell, five hold, and two buy ratings, with an average 12-month price target of $25.75.
• The stock was down 0.5% in midday trading, last trading at $13.62. It has a market cap of about $381.23 million and has traded between $12.07 and $17.26 over the past 52 weeks.
• The company recently paid a quarterly dividend of $0.12, or $0.48 annually, for a dividend yield of 3.5%. Its dividend payout ratio is currently 44.30%.

North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA has received a consensus recommendation of "Hold" from the eight ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $25.75.

Several brokerages have weighed in on NOA. Weiss Ratings restated a "hold (c-)" rating on shares of North American Construction Group in a report on Tuesday, June 9th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of North American Construction Group in a research report on Thursday. BMO Capital Markets reaffirmed a "market perform" rating on shares of North American Construction Group in a report on Thursday, May 14th. Wall Street Zen downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, ATB Cormark Capital Markets cut shares of North American Construction Group from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 28th.

North American Construction Group Stock Down 0.5%

Shares of NOA traded down $0.07 during mid-day trading on Friday, hitting $13.62. 55,311 shares of the company's stock were exchanged, compared to its average volume of 83,634. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.90 and a current ratio of 1.11. North American Construction Group has a fifty-two week low of $12.07 and a fifty-two week high of $17.26. The company has a market cap of $381.23 million, a price-to-earnings ratio of 17.25 and a beta of 1.06. The stock's 50-day moving average is $13.97 and its 200-day moving average is $14.57.

North American Construction Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Wednesday, June 3rd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, June 3rd. North American Construction Group's dividend payout ratio (DPR) is presently 44.30%.

Hedge Funds Weigh In On North American Construction Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bastion Asset Management Inc. purchased a new position in North American Construction Group in the fourth quarter valued at $8,475,000. Bank of Montreal Can lifted its holdings in North American Construction Group by 20.5% during the 3rd quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company's stock worth $38,409,000 after buying an additional 459,755 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of North American Construction Group during the 4th quarter worth about $4,877,000. CIBC Asset Management Inc raised its position in shares of North American Construction Group by 22.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company's stock worth $20,812,000 after acquiring an additional 262,673 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of North American Construction Group during the 4th quarter worth about $3,022,000. Institutional investors and hedge funds own 74.99% of the company's stock.

North American Construction Group Company Profile

North American Construction Group Ltd NYSE: NOA is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.