Zacks Investment Research upgraded shares of Ameresco (NYSE:AMRC) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. The firm currently has $18.00 price target on the utilities provider’s stock.
According to Zacks, “Ameresco, Inc. is an independent provider of comprehensive energy efficiency solutions for facilities throughout North America. The Company’s solutions include upgrades to a facility’s energy infrastructure, and the construction and operation of renewable energy plants. It engages in the development, design, engineering, and installation of projects that reduce the energy, as well as operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco, Inc. is headquartered in Framingham, Massachusetts. “
A number of other equities analysts have also weighed in on AMRC. Roth Capital upgraded shares of Ameresco from a neutral rating to a buy rating and increased their target price for the stock from $16.00 to $19.00 in a research report on Monday, March 4th. Canaccord Genuity increased their target price on shares of Ameresco from $16.50 to $19.50 and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, B. Riley reiterated a buy rating and set a $19.00 target price (up previously from $17.50) on shares of Ameresco in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $18.50.
AMRC opened at $16.31 on Friday. The stock has a market cap of $749.87 million, a P/E ratio of 20.14, a P/E/G ratio of 1.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.36. Ameresco has a fifty-two week low of $11.00 and a fifty-two week high of $18.05.
Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The company had revenue of $217.40 million during the quarter, compared to analyst estimates of $227.53 million. Ameresco had a net margin of 4.83% and a return on equity of 10.56%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. Analysts predict that Ameresco will post 0.84 earnings per share for the current year.
In other Ameresco news, insider Michael T. Bakas sold 37,229 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $15.24, for a total transaction of $567,369.96. Following the completion of the transaction, the insider now owns 82,515 shares in the company, valued at $1,257,528.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael T. Bakas sold 2,720 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $15.24, for a total transaction of $41,452.80. Following the transaction, the executive vice president now owns 109,330 shares of the company’s stock, valued at approximately $1,666,189.20. The disclosure for this sale can be found here. Insiders have sold 237,927 shares of company stock valued at $3,843,755 in the last quarter. Company insiders own 57.93% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Ameresco in the fourth quarter worth about $25,000. Advisor Group Inc. purchased a new stake in shares of Ameresco in the fourth quarter worth about $75,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Ameresco in the fourth quarter worth about $99,000. MetLife Investment Advisors LLC purchased a new stake in shares of Ameresco in the fourth quarter worth about $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ameresco in the fourth quarter worth about $163,000. 29.82% of the stock is currently owned by hedge funds and other institutional investors.
Ameresco Company Profile
Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.
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