Elevator Pitch
North American Construction Group Ltd.'s (NOA) stock is selling close to bargain prices, yet the company's long-term fundamentals are impressive and it has some of the best margins, revenue, and EBITDA growth in its industry. Management said on May 6th that it plans to buy back shares because current prices didn't reflect the company's intrinsic value. Rising oil prices could be another tailwind for NOA, and the futures market, as well as the Energy Information Administration, expect rising oil prices into the end of 2021. Investors have shrugged off guidance for