Zacks Investment Research upgraded shares of Ameresco (NYSE:AMRC) from a hold rating to a strong-buy rating in a research report sent to investors on Monday, Zacks.com reports. The brokerage currently has $17.00 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. “
Separately, ValuEngine cut Ameresco from a buy rating to a hold rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $18.30.
Ameresco stock opened at $14.30 on Monday. Ameresco has a 12 month low of $11.73 and a 12 month high of $18.05. The stock’s 50 day moving average is $14.31 and its 200-day moving average is $15.32. The company has a current ratio of 1.51, a quick ratio of 1.24 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $659.98 million, a price-to-earnings ratio of 17.65, a PEG ratio of 1.02 and a beta of 0.54.
Ameresco (NYSE:AMRC) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Ameresco had a return on equity of 8.29% and a net margin of 4.62%. The company had revenue of $198.20 million for the quarter, compared to the consensus estimate of $196.95 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that Ameresco will post 0.8 earnings per share for the current fiscal year.
In related news, Director Jennifer L. Miller purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $14.15 per share, for a total transaction of $56,600.00. Following the completion of the purchase, the director now owns 12,000 shares in the company, valued at approximately $169,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 55.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in shares of Ameresco by 335.9% during the second quarter. Bank of Montreal Can now owns 2,345 shares of the utilities provider’s stock worth $35,000 after buying an additional 1,807 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Ameresco by 508.8% during the first quarter. BNP Paribas Arbitrage SA now owns 3,945 shares of the utilities provider’s stock worth $64,000 after buying an additional 3,297 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Ameresco by 134.0% during the first quarter. Meeder Asset Management Inc. now owns 4,205 shares of the utilities provider’s stock worth $68,000 after buying an additional 2,408 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Ameresco during the fourth quarter worth $99,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Ameresco during the fourth quarter worth $136,000. Hedge funds and other institutional investors own 29.16% of the company’s stock.
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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