North American Construction Group (TSE:NOA) Stock Passes Below 200 Day Moving Average - Here's Why

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$24.75 and traded as low as C$22.33. North American Construction Group shares last traded at C$22.86, with a volume of 53,357 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NOA shares. BMO Capital Markets reduced their target price on shares of North American Construction Group from C$34.00 to C$30.00 in a research report on Thursday, April 17th. 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 on the stock in a research report on Friday, June 27th. Ventum Financial reduced their target price on shares of North American Construction Group from C$45.00 to C$42.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. 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 target price on the stock. in a research report on Tuesday, April 22nd. Finally, CIBC reduced 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, North American Construction Group currently has an average rating of "Buy" and a consensus target price of C$34.17.

North American Construction Group Stock Down 4.3%

The firm has a market cap of C$584.86 million, a price-to-earnings ratio of 10.27, a P/E/G ratio of 0.79 and a beta of 1.59. The firm's fifty day moving average is C$23.26 and its two-hundred day moving average is C$24.63. The company has a debt-to-equity ratio of 212.25, a current ratio of 1.13 and a quick ratio of 0.79.

North American Construction Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, July 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, June 4th. North American Construction Group's payout ratio is currently 18.81%.

Insiders Place Their Bets

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

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.