North American Construction Group Ltd. (NYSE:NOA) Receives $24.00 Average Price Target from Analysts

Shares of North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.00.

NOA has been the topic of several recent analyst reports. ATB Capital reaffirmed a “sector perform” rating on shares of North American Construction Group in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of North American Construction Group in a research report on Wednesday, October 8th. Zacks Research raised shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wall Street Zen cut North American Construction Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Loop Capital set a $24.00 target price on North American Construction Group in a report on Friday, December 19th.

Institutional Investors Weigh In On North American Construction Group

Several large investors have recently modified their holdings of NOA. Susquehanna International Group LLP bought a new position in shares of North American Construction Group during the third quarter valued at approximately $474,000. Qube Research & Technologies Ltd purchased a new stake in North American Construction Group during the third quarter worth $153,000. Boothbay Fund Management LLC boosted its position in North American Construction Group by 16.3% during the 3rd quarter. Boothbay Fund Management LLC now owns 16,709 shares of the oil and gas company’s stock valued at $237,000 after acquiring an additional 2,339 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of North American Construction Group by 1,424.1% in the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company’s stock valued at $177,000 after acquiring an additional 11,635 shares during the period. Finally, NewGen Asset Management Ltd bought a new position in shares of North American Construction Group in the 3rd quarter worth $4,719,000. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Price Performance

NOA opened at $15.65 on Friday. The business has a fifty day moving average of $14.10 and a 200 day moving average of $14.45. The stock has a market cap of $453.89 million, a P/E ratio of 16.64 and a beta of 1.16. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 1.59. North American Construction Group has a 52-week low of $12.12 and a 52-week high of $21.73.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its earnings results on Wednesday, November 12th. The oil and gas company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The business had revenue of $280.90 million during the quarter, compared to analysts’ expectations of $231.58 million. North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%. As a group, sell-side analysts anticipate that North American Construction Group will post 2.56 EPS for the current year.

North American Construction Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, November 26th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.1%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 26th. North American Construction Group’s payout ratio is currently 36.17%.

North American Construction Group Company Profile

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.