Raymond James Issues Positive Forecast for North American Construction Group (TSE:NOA) Stock Price

North American Construction Group (TSE:NOA) (NYSE:NOA) had its target price lifted by Raymond James from C$35.00 to C$40.00 in a research note released on Friday morning,BayStreet.CA reports. Raymond James also issued estimates for North American Construction Group’s Q1 2025 earnings at $1.07 EPS.

Several other research analysts have also commented on the stock. Canaccord Genuity Group upped their price objective on shares of North American Construction Group from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Friday, November 1st. ATB Capital cut their price target on shares of North American Construction Group from C$40.00 to C$38.00 in a report on Friday, November 1st. CIBC upgraded shares of North American Construction Group from a “neutral” rating to an “outperform” rating and boosted their target price for the company from C$30.00 to C$38.00 in a research report on Thursday. Cibc World Mkts upgraded shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, National Bankshares boosted their target price on shares of North American Construction Group from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, North American Construction Group has a consensus rating of “Buy” and a consensus price target of C$37.63.

North American Construction Group Stock Performance

North American Construction Group stock opened at C$29.40 on Friday. The stock 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. 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 firm’s fifty day moving average price is C$26.56 and its 200-day moving average price is C$26.50.

North American Construction Group Increases Dividend

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

Insiders Place Their Bets

In other news, Director Martin Robert Ferron bought 2,900 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of C$27.68 per share, for a total transaction of C$80,272.00. Insiders have bought 11,900 shares of company stock worth $320,617 over the last ninety days. Corporate insiders own 8.93% of the company’s stock.

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.