B. Riley reissued their buy rating on shares of Ameresco (NYSE:AMRC) in a research report sent to investors on Thursday. The brokerage currently has a $19.00 price target on the utilities provider’s stock.
Several other analysts have also recently issued reports on the stock. Roth Capital raised shares of Ameresco from a neutral rating to a buy rating and increased their price target for the stock from $16.00 to $19.00 in a research report on Monday, March 4th. Zacks Investment Research cut shares of Ameresco from a buy rating to a hold rating in a research report on Monday, January 28th. Finally, Canaccord Genuity increased their price target 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. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Ameresco presently has an average rating of Buy and an average target price of $19.10.
NYSE AMRC opened at $16.26 on Thursday. Ameresco has a 12 month low of $11.00 and a 12 month high of $18.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.40. The stock has a market capitalization of $746.26 million, a price-to-earnings ratio of 20.07, a P/E/G ratio of 0.98 and a beta of 0.61.
Ameresco (NYSE:AMRC) last posted its earnings results on Wednesday, March 6th. The utilities provider reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Ameresco had a net margin of 4.83% and a return on equity of 10.56%. The company had revenue of $217.40 million for the quarter, compared to analysts’ expectations of $227.53 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Ameresco’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts predict that Ameresco will post 0.95 EPS for the current fiscal year.
In related news, EVP David Anderson sold 42,181 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $15.80, for a total transaction of $666,459.80. Following the sale, the executive vice president now directly owns 225,000 shares in the company, valued at $3,555,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph W. Sutton sold 10,918 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $196,633.18. The disclosure for this sale can be found here. Insiders have sold 169,063 shares of company stock worth $2,689,266 over the last 90 days. Insiders own 57.93% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Ameresco during the fourth quarter worth approximately $25,000. Advisor Group Inc. purchased a new stake in shares of Ameresco during the fourth quarter worth approximately $75,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Ameresco during the fourth quarter worth approximately $99,000. MetLife Investment Advisors LLC purchased a new stake in shares of Ameresco during the fourth quarter worth approximately $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ameresco in the fourth quarter valued at approximately $163,000. Hedge funds and other institutional investors own 29.97% of the company’s stock.
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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