North American Construction Group (NYSE:NOA) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $12.56 and traded as high as $12.68. North American Construction Group shares last traded at $12.6550, with a volume of 82,442 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOA. Weiss Ratings reiterated a “hold (c-)” rating on shares of North American Construction Group in a research report on Friday, September 4th. BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a research report on Thursday, August 13th. Wall Street Zen cut shares of North American Construction Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. ATB Cormark Capital Markets raised shares of North American Construction Group from a “hold” rating to a “moderate buy” rating in a research note on Monday. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, North American Construction Group currently has a consensus rating of “Hold” and a consensus target price of $25.75.

North American Construction Group Stock Down 4.0%

The firm has a 50-day simple moving average of $12.51 and a 200 day simple moving average of $13.97. The stock has a market capitalization of $332.30 million, a P/E ratio of 15.24 and a beta of 1.12. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.07 and a quick ratio of 0.90.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%. The company had revenue of $321.22 million for the quarter, compared to analysts’ expectations of $246.65 million. On average, equities research analysts forecast that North American Construction Group Ltd. will post 0.90 EPS for the current year.

North American Construction Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, August 28th were given a C$0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, August 28th. North American Construction Group’s dividend payout ratio is 43.04%.

Hedge Funds Weigh In On North American Construction Group

Several large investors have recently modified their holdings of NOA. TD Waterhouse Canada Inc. lifted its holdings in North American Construction Group by 1.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 329,224 shares of the oil and gas company’s stock worth $4,253,000 after buying an additional 3,737 shares during the period. WINTON GROUP Ltd bought a new stake in shares of North American Construction Group in the 2nd quarter valued at about $144,000. Morgan Dempsey Capital Management LLC acquired a new stake in shares of North American Construction Group in the first quarter valued at about $257,000. Cibc World Market Inc. acquired a new stake in shares of North American Construction Group in the second quarter valued at about $278,000. Finally, Lazard Asset Management LLC increased its stake in shares of North American Construction Group by 259.5% in the first quarter. Lazard Asset Management LLC now owns 58,124 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 41,954 shares during the period. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Inc is a Canadian heavy civil construction and contract mining company serving the resource and infrastructure sectors. The company provides large-scale earthmoving, site development, mine-support and construction services for customers primarily in western Canada.

Its services include contract mining, overburden removal, mine development, heavy civil construction, roadbuilding, reclamation and site preparation. North American Construction Group also provides equipment maintenance, repair and rebuild services, and operates a large fleet of heavy construction and mining equipment to support its projects.

Founded in 1953, the company has developed long-standing expertise in the Canadian oil sands and other resource projects.