North American Construction Group (TSE:NOA) Stock Price Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• North American Construction Group Ltd. shares have fallen below their 200-day moving average, indicating a potential warning sign for investors, as they traded at C$19.01, below the average of C$21.62.
• Multiple brokerages have dropped their ratings on the stock, with Canaccord Genuity and Cibc World Mkts both changing their recommendations from "strong-buy" to "hold".
• The stock currently has a market capitalization of C$554.46 million and a consensus rating of "Moderate Buy" with an average price target of C$32.06.

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$21.62 and traded as low as C$18.46. North American Construction Group shares last traded at C$19.01, with a volume of 83,167 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOA. Canaccord Genuity Group downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from C$33.00 to C$24.50 in a research note on Friday, July 11th. National Bankshares cut their price target on North American Construction Group from C$40.00 to C$28.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Cibc World Mkts downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. ATB Capital cut their price target on North American Construction Group from C$37.00 to C$34.00 and set an "outperform" rating on the stock in a research note on Friday, June 27th. Finally, Atb Cap Markets downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, North American Construction Group presently has a consensus rating of "Moderate Buy" and an average price target of C$32.06.

North American Construction Group Trading Up 2.0%

The firm's 50 day moving average price is C$19.72 and its 200-day moving average price is C$21.62. The stock has a market cap of C$554.46 million, a P/E ratio of 15.97, a P/E/G ratio of 0.79 and a beta of 0.88. The company has a debt-to-equity ratio of 212.25, a current ratio of 1.13 and a quick ratio of 0.79.

About North American Construction Group

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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