Analysts Set North American Construction Group Ltd. (TSE:NOA) Target Price at C$37.63

Shares of North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) have been given a consensus rating of “Buy” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$37.63.

NOA has been the subject of several research reports. National Bankshares lifted their price target on shares of North American Construction Group from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. ATB Capital dropped their price objective on shares of North American Construction Group from C$40.00 to C$38.00 in a research note on Friday, November 1st. Cibc World Mkts raised shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. Raymond James upped their target price on shares of North American Construction Group from C$35.00 to C$40.00 in a report on Friday, December 6th. Finally, Canaccord Genuity Group boosted their price objective on North American Construction Group from C$32.00 to C$33.00 in a report on Friday, December 6th.

Insider Activity

In related news, Director Martin Robert Ferron purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of C$27.98 per share, with a total value of C$167,884.20. 8.93% of the stock is currently owned by corporate insiders.

North American Construction Group Stock Down 1.7 %

NOA stock opened at C$29.40 on Friday. The company has a debt-to-equity ratio of 210.33, a quick ratio of 0.79 and a current ratio of 1.03. North American Construction Group has a fifty-two week low of C$22.68 and a fifty-two week high of C$34.87. The stock’s 50 day simple moving average is C$27.16 and its 200 day simple moving average is C$26.62. The company has a market cap of C$785.86 million, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, November 27th. This is an increase from North American Construction Group’s previous quarterly dividend of $0.10. North American Construction Group’s payout ratio is presently 21.86%.

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.