Canaccord Genuity Believes North American Construction Group (NYSE: NOA) Won’t Stop Here

In a report released yesterday, Yuri Lynk from Canaccord Genuity maintained a Buy rating on North American Construction Group (NOAResearch Report), with a price target of C$21.00. The company’s shares closed last Thursday at $14.15, close to its 52-week high of $14.48.

According to TipRanks.com, Lynk is a 5-star analyst with an average return of 14.0% and a 58.9% success rate. Lynk covers the Industrial Goods sector, focusing on stocks such as Hardwoods Distribution, Badger Daylighting, and SNC-Lavalin Group.

Currently, the analyst consensus on North American Construction Group is a Strong Buy with an average price target of $17.04, representing a 18.8% upside. In a report issued on June 2, BMO Capital also maintained a Buy rating on the stock with a C$21.00 price target.

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Based on North American Construction Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $168 million and net profit of $19.39 million. In comparison, last year the company earned revenue of $199 million and had a net profit of $19.04 million.

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North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers their services to customers in the resource development and industrial construction sectors, primarily within Western Canada. The company focuses on supporting the construction and operation of surface mines, in the oil sands. The company was founded in 1953 and is headquartered in Acheson, Canada.