North American Construction Group (TSE:NOA) Lowered to Hold Rating by Atb Cap Markets

Key Points

• North American Construction Group has been downgraded to a "hold" rating by Atb Cap Markets, moving away from a previously held "strong-buy" rating.
• TD Securities has also lowered its rating from "buy" to "hold," adjusting the price target from C$25.00 to C$21.00.
• The stock is currently trading down 2.3% at C$17.39, with various analysts providing an average price target of C$33.50 and a consensus rating of "Moderate Buy."

Atb Cap Markets cut shares of North American Construction Group (TSE:NOA - Free Report) NYSE: NOA from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating and reduced their price target for the stock from C$33.00 to C$24.50 in a research report on Friday, July 11th. ATB Capital reduced their target price on shares of North American Construction Group from C$37.00 to C$34.00 and set an "outperform" rating for the company in a report on Friday, June 27th. CIBC decreased their target price on shares of North American Construction Group from C$37.00 to C$36.00 in a research report on Thursday, May 22nd. BMO Capital Markets lowered their price target on shares of North American Construction Group from C$34.00 to C$30.00 in a research note on Thursday, April 17th. Finally, Raymond James Financial cut shares of North American Construction Group from a "strong-buy" rating to an "outperform" rating and set a C$40.00 price target on the stock. in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$32.06.

North American Construction Group Stock Up 5.1%

Shares of NOA stock traded up C$0.88 on Thursday, hitting C$18.00. 179,981 shares of the stock were exchanged, compared to its average volume of 91,886. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 212.25. The firm has a market capitalization of C$481.81 million, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. North American Construction Group has a fifty-two week low of C$16.78 and a fifty-two week high of C$31.67. The business has a 50-day moving average of C$21.68 and a 200 day moving average of C$22.84.

North American Construction Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, July 11th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, June 4th. North American Construction Group's dividend payout ratio (DPR) is presently 18.81%.

Insider Activity at North American Construction Group

In related news, Director Martin Robert Ferron sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of C$24.74, for a total transaction of C$247,400.00. 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.