North American Construction Group (TSE:NOA) Sets New 12-Month Low on Analyst Downgrade

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) shares hit a new 52-week low during trading on Friday after National Bankshares lowered their price target on the stock from C$40.00 to C$28.00. National Bankshares currently has an outperform rating on the stock. North American Construction Group traded as low as C$16.95 and last traded at C$17.07, with a volume of 288290 shares traded. The stock had previously closed at C$17.80.

Other equities analysts have also issued reports about the stock. TD Securities lowered shares of North American Construction Group from a “strong-buy” rating to a “hold” rating and decreased their price objective for the stock from C$25.00 to C$21.00 in a report on Thursday. Atb Cap Markets lowered shares of North American Construction Group from a “strong-buy” rating to a “hold” rating in a report on Thursday. CIBC decreased their target price on shares of North American Construction Group from C$37.00 to C$36.00 in a research note on Thursday, May 22nd. Canaccord Genuity Group lowered 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. Finally, BMO Capital Markets decreased their target price on shares of North American Construction Group from C$34.00 to C$30.00 in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.06.

Insider Activity at North American Construction Group

In other news, Director Martin Robert Ferron sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were 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 company insiders.

North American Construction Group Stock Performance

The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 212.25. The business has a 50 day moving average price of C$22.11 and a 200 day moving average price of C$23.06. The stock has a market cap of C$455.31 million, a P/E ratio of 8.00, a PEG ratio of 0.79 and a beta of 1.59.

North American Construction Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, July 11th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, June 4th. North American Construction Group’s dividend payout ratio is presently 18.81%.

About North American Construction Group

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.