North American Construction Group (TSE:NOA) Cut to Hold at TD Securities

TD Securities downgraded shares of North American Construction Group (TSE:NOA) (NYSE:NOA) from a buy rating to a hold rating in a report published on Thursday, Marketbeat.com reports. The firm currently has C$21.00 price objective on the stock, down from their prior price objective of C$25.00.

A number of other analysts also recently weighed in on the company. BMO Capital Markets cut their target price on North American Construction Group from C$34.00 to C$30.00 in a research report on Thursday, April 17th. Canaccord Genuity Group cut shares of North American Construction Group from a “strong-buy” rating to a “hold” rating and cut their price objective for the stock from C$33.00 to C$24.50 in a research report on Friday, July 11th. ATB Capital reduced 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 research note on Friday, June 27th. CIBC decreased their target price on shares of North American Construction Group from C$37.00 to C$36.00 in a report on Thursday, May 22nd. Finally, Raymond James Financial downgraded shares of North American Construction Group from a “strong-buy” rating to an “outperform” rating and set a C$40.00 price target for the company. in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$32.06.

North American Construction Group Stock Performance

TSE NOA opened at C$17.01 on Thursday. The firm has a 50-day moving average price of C$22.11 and a two-hundred day moving average price of C$23.02. North American Construction Group has a 12-month low of C$16.95 and a 12-month high of C$31.67. The company has a market capitalization of C$455.31 million, a P/E ratio of 8.00, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 212.25.

North American Construction Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, July 11th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.8%. North American Construction Group’s payout ratio is currently 18.81%.

Insider Transactions at North American Construction Group

In other North American Construction Group news, Director Martin Robert Ferron sold 10,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$24.74, for a total value of C$247,400.00. 8.93% of the stock is currently owned by insiders.

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.