North American Construction Group (TSE:NOA) Share Price Crosses Above 50 Day Moving Average – Here’s Why

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$17.62 and traded as high as C$17.82. North American Construction Group shares last traded at C$17.71, with a volume of 91,231 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. National Bank Financial reduced their price target on shares of North American Construction Group from C$30.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, August 14th. ATB Cormark Capital Markets upgraded shares of North American Construction Group from a “hold” rating to a “moderate buy” rating and set a C$23.50 price target for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$22.64.

North American Construction Group Stock Performance

The firm’s fifty day moving average price is C$17.62 and its 200 day moving average price is C$19.43. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 246.95. The firm has a market capitalization of C$476.65 million, a PE ratio of 15.81, a PEG ratio of 0.79 and a beta of 0.83.

North American Construction Group (TSE:NOA) (NYSE:NOA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported C$0.32 earnings per share for the quarter. North American Construction Group had a net margin of 2.41% and a return on equity of 7.40%. The business had revenue of C$400.96 million for the quarter. On average, research analysts anticipate that North American Construction Group Ltd. will post 4.06 earnings per share for the current year.

North American Construction Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd were paid a $0.12 dividend. The ex-dividend date was Friday, August 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.7%. North American Construction Group’s payout ratio is 42.86%.

Insider Buying and Selling

In other news, insider North American Construction Group Ltd. bought 110,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of C$19.01 per share, with a total value of C$2,091,100.00. Following the transaction, the insider directly owned 110,000 shares in the company, valued at approximately C$2,091,100. This trade represents a ∞ increase in their position. 8.93% of the stock is owned by company insiders.

About North American Construction Group

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.