North American Construction Group (TSE:NOA) Shares Pass Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• North American Construction Group's stock price dropped below its 200-day moving average, reaching a low of C$20.22, with the last traded price at C$20.61.
• Multiple analysts have adjusted their price targets for the stock, with TD Securities lowering it from C$33.00 to C$27.00, while Canaccord Genuity cut theirs from C$33.00 to C$24.50.
• The company recently announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 2.3%.

Shares of North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.57 and traded as low as C$20.22. North American Construction Group shares last traded at C$20.61, with a volume of 49,265 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NOA shares. TD Securities reduced their price target on North American Construction Group from C$33.00 to C$27.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. BMO Capital Markets dropped their target price on North American Construction Group from C$34.00 to C$30.00 in a research note on Thursday, April 17th. CIBC decreased their price target on North American Construction Group from C$37.00 to C$36.00 in a research note on Thursday, May 22nd. Canaccord Genuity Group cut North American Construction Group from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from C$33.00 to C$24.50 in a report on Friday, July 11th. Finally, ATB Capital cut their price objective 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 report on Friday, June 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$34.17.

North American Construction Group Trading Up 2.0%

The company has a market capitalization of C$601.72 million, a PE ratio of 10.57, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 212.25, a quick ratio of 0.79 and a current ratio of 1.13. The business has a fifty day moving average price of C$22.47 and a 200 day moving average price of C$23.41.

North American Construction Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, July 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, June 4th. North American Construction Group's payout ratio is currently 18.81%.

Insider Buying and Selling 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. 8.93% of the stock is owned by insiders.

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.