North West (TSE:NWC) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• North West Company's stock has recently crossed above its two hundred day moving average, reaching a high of C$51.54.
• Analysts have set an average target price of C$60.25 for the stock, with ratings varying from "Strong Buy" to "Outperform."
• The company has increased its quarterly dividend from $0.40 to $0.53, representing an annualized yield of 4.4%.

The North West Company Inc. (TSE:NWC - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$50.70 and traded as high as C$51.54. North West shares last traded at C$51.20, with a volume of 164,909 shares.

Analysts Set New Price Targets

NWC has been the subject of several research reports. Royal Bank Of Canada set a C$60.00 target price on North West and gave the stock an "outperform" rating in a research report on Monday, July 28th. CIBC decreased their target price on North West from C$59.00 to C$58.00 and set an "outperform" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$60.25.

North West Stock Down 1.1%

The firm has a market cap of C$2.28 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.20. The company has a current ratio of 2.16, a quick ratio of 0.64 and a debt-to-equity ratio of 59.78. The stock has a 50-day moving average of C$48.85 and a 200-day moving average of C$50.72.

North West Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, June 27th. This is an increase from North West's previous quarterly dividend of $0.40. North West's dividend payout ratio (DPR) is presently 56.34%.

Insiders Place Their Bets

In other North West news, Senior Officer Vineet Gupta bought 2,200 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were purchased at an average price of C$49.95 per share, with a total value of C$109,890.00. 0.12% of the stock is owned by insiders.

About North West

The North West Co Inc is a Canada-based company that is principally engaged in retail business in underserved rural communities and urban neighborhoods. The company provides food, family apparel, housewares, appliances, and outdoor products, with food products accounting for the majority of the company's revenue.