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

Key Points

• North American Construction Group's share price reached a new 52-week low after National Bankshares downgraded their price target from C$40.00 to C$28.00, with the stock trading as low as C$16.95.
• Multiple analysts have recently downgraded the stock's ratings and target prices, with an average rating of "Moderate Buy" and target price now at C$32.06.
• The company announced a quarterly dividend of $0.12 per share, reflecting an annualized yield of 2.8% and a payout ratio of 18.81%.

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA's share price hit a new 52-week low during mid-day trading on Friday after National Bankshares lowered their price target on the stock from C$40.00 to C$28.00. National Bankshares currently has an outperform rating on the stock. North American Construction Group traded as low as C$16.95 and last traded at C$17.07, with a volume of 288290 shares. The stock had previously closed at C$17.80.

Other analysts also recently issued reports about the company. CIBC cut their target price on North American Construction Group from C$37.00 to C$36.00 in a research report on Thursday, May 22nd. Atb Cap Markets downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday. BMO Capital Markets cut their target price on North American Construction Group from C$34.00 to C$30.00 in a research report on Thursday, April 17th. ATB Capital cut their target price on North American Construction Group from C$37.00 to C$34.00 and set an "outperform" rating for the company in a research report on Friday, June 27th. Finally, TD Securities downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating and cut their target price for the company from C$25.00 to C$21.00 in a research report on Thursday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$32.06.

Insider Activity

In related news, Director Martin Robert Ferron sold 10,000 shares of the business's stock in a transaction 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. 8.93% of the stock is currently owned by insiders.

North American Construction Group Price Performance

The stock has a market capitalization of C$457.45 million, a PE ratio of 8.04, a PEG ratio of 0.79 and a beta of 1.59. The business has a fifty day moving average price of C$22.25 and a 200-day moving average price of C$23.14. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 212.25.

North American Construction Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, July 11th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. North American Construction Group's dividend payout ratio is currently 18.81%.

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.

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