North American Construction Group Ltd. (TSE:NOA) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) have been given a consensus rating of “Buy” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$37.63.

A number of analysts have issued reports on the company. Cibc World Mkts raised North American Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 5th. National Bankshares raised their price objective on shares of North American Construction Group from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group lifted their target price on shares of North American Construction Group from C$32.00 to C$33.00 in a research note on Friday, December 6th. ATB Capital dropped their price target on shares of North American Construction Group from C$40.00 to C$38.00 in a research note on Friday, November 1st. Finally, CIBC raised shares of North American Construction Group from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$30.00 to C$38.00 in a research report on Thursday, December 5th.

Insiders Place Their Bets

In other news, Director Martin Robert Ferron purchased 2,900 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of C$27.68 per share, for a total transaction of C$80,272.00. Corporate insiders own 8.93% of the company’s stock.

North American Construction Group Price Performance

TSE:NOA opened at C$31.58 on Wednesday. North American Construction Group has a one year low of C$22.68 and a one year high of C$34.87. The stock has a market cap of C$844.13 million, a PE ratio of 17.26, a P/E/G 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. The stock has a 50 day moving average price of C$28.77 and a 200 day moving average price of C$26.82.

North American Construction Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. This is an increase from North American Construction Group’s previous quarterly dividend of $0.10. North American Construction Group’s payout ratio is currently 21.86%.

North American Construction Group Company Profile

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.