Algoma Central (TSX: ALC), the Services sector company, was revisited by a Wall Street analyst today. Canaccord Genuity’s analyst Yuri Lynk reiterates their Buy rating on the shares, with a C$19 price target.
According to TipRanks.com, Lynk is ranked #548 out of 4847 analysts.
Read also: Weight Watchers (WTW) Runs Downhill, But this Analyst Thinks Now Is the Time to Buy the Stock
Algoma Central has an analyst consensus of Moderate Buy, with a price target consensus of C$19.
Based on Algoma Central’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$14.45 million. In comparison, last year the company had a net profit of C$29.16 million.
Algoma Central Corp. is a shipping company, which engages in owning and operating flag fleet of dry-bulk carriers and product tankers. It operates through the following segments: Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, and Global Short Sea Shipping.
The company’s shares closed on Friday at C$14.
