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

Shares of North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.97 and traded as high as C$20.29. North American Construction Group shares last traded at C$20.13, with a volume of 124,656 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NOA shares. BMO Capital Markets boosted their price target on shares of North American Construction Group from C$21.00 to C$22.00 and gave the company a “market perform” rating in a report on Thursday, May 14th. Raymond James Financial increased their target price on North American Construction Group from C$24.00 to C$26.00 in a report on Wednesday, April 29th. Finally, ATB Cormark Capital Markets lifted their price target on North American Construction Group from C$21.00 to C$24.00 and gave the company a “sector perform” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$22.71.

North American Construction Group Trading Up 5.7%

The business’s 50-day simple moving average is C$19.09 and its 200-day simple moving average is C$19.97. The company has a market cap of C$545.58 million, a PE ratio of 17.97, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 202.48.

North American Construction Group (TSE:NOA) (NYSE:NOA) last posted its quarterly earnings results on Wednesday, May 13th. The company reported C$0.37 earnings per share for the quarter. North American Construction Group had a net margin of 2.63% and a return on equity of 7.69%. The business had revenue of C$319.22 million for the quarter. As a group, analysts expect that North American Construction Group Ltd. will post 4.0597484 EPS for the current fiscal year.

North American Construction Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, June 3rd. North American Construction Group’s dividend payout ratio is presently 42.86%.

Insider Transactions at North American Construction Group

In other North American Construction Group news, Director Martin Robert Ferron acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were purchased at an average price of C$17.76 per share, with a total value of C$88,800.00. Following the completion of the transaction, the director owned 2,300,738 shares in the company, valued at C$40,861,106.88. The trade was a 0.22% increase in their ownership of the stock. Also, insider North American Construction Group Ltd. bought 165,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was acquired at an average cost of C$19.14 per share, with a total value of C$3,158,100.00. Following the completion of the transaction, the insider directly owned 165,000 shares of the company’s stock, valued at approximately C$3,158,100. This represents a ∞ increase in their ownership of the stock. Insiders have bought a total of 185,000 shares of company stock valued at $3,543,650 over the last ninety days. Company insiders own 8.93% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.