Brokerages Set North American Construction Group Ltd. (NYSE:NOA) Target Price at $24.50

Shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) have been given an average rating of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $24.50.

A number of research firms recently weighed in on NOA. Loop Capital set a $24.00 price objective on shares of North American Construction Group in a research report on Friday, December 19th. Wall Street Zen cut North American Construction Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. BMO Capital Markets downgraded North American Construction Group from an “outperform” rating to a “market perform” rating in a report on Thursday, March 12th. ATB Cormark Capital Markets raised North American Construction Group from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 13th. Finally, Canaccord Genuity Group upgraded North American Construction Group from a “hold” rating to a “buy” rating in a report on Friday, March 13th.

Hedge Funds Weigh In On North American Construction Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of North American Construction Group during the second quarter valued at approximately $122,000. Highlander Partners L.P. bought a new position in North American Construction Group in the fourth quarter worth approximately $132,000. Qube Research & Technologies Ltd purchased a new position in North American Construction Group during the 3rd quarter worth $153,000. Dynamic Technology Lab Private Ltd purchased a new position in North American Construction Group during the 4th quarter worth $165,000. Finally, Lazard Asset Management LLC raised its position in North American Construction Group by 1,424.1% during the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock valued at $177,000 after purchasing an additional 11,635 shares in the last quarter. 74.99% of the stock is currently owned by institutional investors.

North American Construction Group Price Performance

NYSE:NOA opened at $13.58 on Friday. The firm has a market capitalization of $387.30 million, a price-to-earnings ratio of 16.98 and a beta of 1.20. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.70. The business has a 50 day simple moving average of $15.18 and a 200-day simple moving average of $14.66. North American Construction Group has a 1 year low of $12.07 and a 1 year high of $18.24.

North American Construction Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. North American Construction Group’s dividend payout ratio (DPR) is presently 43.75%.

North American Construction Group Company Profile

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.