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

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$26.95 and traded as high as C$30.39. North American Construction Group shares last traded at C$30.24, with a volume of 43,249 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOA. CIBC upgraded North American Construction Group from a “neutral” rating to an “outperform” rating and raised their price target for the company from C$30.00 to C$38.00 in a report on Thursday, December 5th. Cibc World Mkts raised shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 5th. ATB Capital decreased their price target on shares of North American Construction Group from C$40.00 to C$38.00 in a research note on Friday, November 1st. National Bankshares lifted their price objective on shares of North American Construction Group from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Raymond James upped their target price on shares of North American Construction Group from C$35.00 to C$40.00 in a research report on Friday, December 6th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$37.63.

North American Construction Group Stock Performance

The stock has a market capitalization of C$790.67 million, a PE ratio of 16.16, a PEG ratio of 0.79 and a beta of 1.59. The business’s 50 day moving average is C$29.33 and its 200 day moving average is C$27.00. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 210.33.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.12 per share. This is a boost from North American Construction Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.62%. North American Construction Group’s dividend payout ratio is currently 21.86%.

Insider Buying and Selling

In other news, Director Martin Robert Ferron acquired 2,900 shares of North American Construction Group stock in a transaction on Monday, November 18th. The shares were bought at an average cost of C$27.68 per share, for a total transaction of C$80,272.00. 8.93% of the stock is owned by corporate 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.