North American Construction Group (TSE:NOA) Shares Pass Above 200-Day Moving Average – Here’s What Happened

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.59 and traded as high as C$30.63. North American Construction Group shares last traded at C$30.61, with a volume of 66,186 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NOA shares. ATB Capital cut their price objective on North American Construction Group from C$40.00 to C$38.00 in a research report on Friday, November 1st. Cibc World Mkts upgraded North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. National Bankshares lifted their price objective on North American Construction Group from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price target on North American Construction Group from C$32.00 to C$33.00 in a report on Friday, December 6th. Finally, CIBC upgraded North American Construction Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$30.00 to C$38.00 in a report on Thursday, December 5th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$37.63.

North American Construction Group Trading Up 0.3 %

The business’s 50-day moving average is C$27.49 and its two-hundred day moving average is C$26.65. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 210.33. The stock has a market capitalization of C$820.61 million, a PE ratio of 16.78, a PEG ratio of 0.79 and a beta of 1.59.

North American Construction Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.56%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, November 27th. North American Construction Group’s dividend payout ratio is 21.86%.

Insider Buying and Selling

In other news, Director Martin Robert Ferron acquired 2,900 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of C$27.68 per share, with a total value of C$80,272.00. 8.93% of the stock is owned by corporate 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.