North American Construction Group (TSE:NOA) Stock Passes Below 200 Day Moving Average - Should You Sell?

Key Points

• North American Construction Group Ltd. shares have fallen below their 200-day moving average, signaling a potential decline in stock performance.
• Several analysts have downgraded their price targets for the stock, with estimates now ranging from C$21.00 to C$28.00, affecting the overall Sentiment towards the stock.
• The stock currently holds a consensus rating of "Moderate Buy" with a target price of C$32.06, despite recent downgrades from multiple brokerage firms.

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.46 and traded as low as C$19.38. North American Construction Group shares last traded at C$19.77, with a volume of 108,577 shares changing hands.

Analysts Set New Price Targets

NOA has been the topic of several recent analyst reports. National Bankshares cut their price objective on shares of 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. Canaccord Genuity Group downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from C$33.00 to C$24.50 in a report on Friday, July 11th. 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. Cibc World Mkts downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, TD Securities downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating and cut their price objective for the company from C$25.00 to C$21.00 in a report on Thursday, August 14th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$32.06.

North American Construction Group Trading Up 0.6%

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 company has a 50-day simple moving average of C$19.53 and a 200 day simple moving average of C$21.46. The firm has a market cap of C$576.63 million, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88.

North American Construction Group Company Profile

North American Construction Group Ltd is Canada's provider of heavy civil construction and mining contractors. The company has provided services to the oil, natural gas and resource companies.

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