North American Construction Group (TSE:NOA) Rating Increased to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of North American Construction Group (TSE:NOA) (NYSE:NOA) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

NOA has been the subject of a number of other research reports. Canaccord Genuity Group upped their target price on North American Construction Group from C$30.00 to C$32.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. CIBC upgraded shares of North American Construction Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$30.00 to C$38.00 in a research report on Thursday. ATB Capital lowered their price target on shares of North American Construction Group from C$40.00 to C$38.00 in a research report on Friday, November 1st. Finally, National Bankshares raised 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. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, North American Construction Group currently has a consensus rating of “Buy” and a consensus target price of C$36.88.

North American Construction Group Trading Up 3.8 %

Shares of NOA opened at C$29.55 on Thursday. The business’s 50-day moving average price is C$26.48 and its 200-day moving average price is C$26.49. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 210.33. The stock has a market cap of C$789.87 million, a PE ratio of 16.15, a P/E/G ratio of 0.79 and a beta of 1.59. North American Construction Group has a twelve month low of C$22.68 and a twelve month high of C$34.87.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.62%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, November 27th. North American Construction Group’s payout ratio is presently 21.86%.

Insider Buying and Selling at North American Construction Group

In related news, Director Martin Robert Ferron acquired 6,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average price of C$27.98 per share, with a total value of C$167,884.20. Over the last quarter, insiders bought 11,900 shares of company stock valued at $320,617. Corporate insiders own 8.93% of the company’s stock.

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.