North American Construction Group (TSE:NOA) Reaches New 1-Year Low After 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 stock price reached a new 52-week low on Friday after Cibc World Mkts downgraded the stock from a strong-buy rating to a hold rating. The company 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.

Several other research firms have also recently issued reports on NOA. 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 objective for the company. in a research report on Tuesday, April 22nd. Atb Cap Markets cut North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Canaccord Genuity Group downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from C$33.00 to C$24.50 in a report on Friday, July 11th. National Bankshares dropped their price objective on North American Construction Group from C$40.00 to C$28.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Finally, 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. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$32.06.

Insider Activity

In related news, Director Martin Robert Ferron sold 10,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$24.74, for a total value of C$247,400.00. 8.93% of the stock is currently owned by company insiders.

North American Construction Group Trading Up 5.1%

The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 212.25. The company's fifty day moving average price is C$21.68 and its two-hundred day moving average price is C$22.84. The firm has a market cap of C$481.81 million, a PE ratio of 8.46, a P/E/G ratio of 0.79 and a beta of 1.59.

North American Construction Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, July 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, June 4th. 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.