Really strong execution from the company here over the last bit but I'm just generally worried about valuation at this point. Construction companies are very fickle, we witnessed some project issues plague a company like Aecon for years before recovering.
I do believe there is potentially some upside left here but the margin of safety is pretty thin. It wouldn't be something I'd be looking to add at this point in time.
It could continue to execute and grow into its current valuations, but at this point in time the company is trading at a large scale premium to historical averages (over 50% premium) based on future expected growth. If it doesn't hit those growth levels, we could see a correction.
Higher risk buy right now for medium level reward IMO.