North American Construction Group (TSE:NOA) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$20.05 and traded as high as C$22.84. North American Construction Group shares last traded at C$22.84, with a volume of 40,414 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOA. Canadian Imperial Bank of Commerce dropped their price objective on shares of North American Construction Group from C$22.00 to C$20.00 in a research report on Tuesday, December 30th. Roth Mkm upgraded shares of North American Construction Group to a “strong-buy” rating in a research note on Thursday, February 5th. National Bank Financial set a C$28.00 price target on shares of North American Construction Group and gave the company an “outperform” rating in a report on Monday, December 22nd. Finally, TD Securities cut their price objective on shares of North American Construction Group from C$21.00 to C$19.00 and set a “hold” rating for the company in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$28.06.

North American Construction Group Price Performance

The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 212.25. The company’s 50 day moving average is C$21.06 and its 200 day moving average is C$20.05. The firm has a market capitalization of C$664.07 million, a price-to-earnings ratio of 17.98, a P/E/G ratio of 0.79 and a beta of 0.35.

About North American Construction Group

North American Construction Group Ltd is Canada’s provider of heavy civil construction and mining contractors. The company has provided services to the oil, natural gas and resource companies.