Zacks Investment Research upgraded shares of Ameresco (NYSE:AMRC) from a hold rating to a buy rating in a report published on Thursday. The brokerage currently has $18.00 price objective 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. “
Other analysts have also issued reports about the stock. Canaccord Genuity increased their price target on shares of Ameresco from $16.00 to $16.50 and gave the stock a buy rating in a research report on Wednesday, October 31st. Oppenheimer set a $17.00 price objective on Ameresco and gave the stock a buy rating in a report on Tuesday, October 30th. ValuEngine downgraded Ameresco from a buy rating to a hold rating in a report on Thursday, October 4th. Finally, Roth Capital downgraded Ameresco from a buy rating to a neutral rating and dropped their price objective for the stock from $15.00 to $14.00 in a report on Thursday, October 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Ameresco currently has a consensus rating of Buy and a consensus price target of $16.38.
NYSE AMRC opened at $15.67 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $716.86 million, a PE ratio of 20.62, a P/E/G ratio of 1.16 and a beta of 0.39. Ameresco has a 52-week low of $7.65 and a 52-week high of $16.59.
Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The business had revenue of $205.40 million during the quarter, compared to analyst estimates of $208.40 million. Ameresco had a net margin of 6.43% and a return on equity of 14.28%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. Sell-side analysts predict that Ameresco will post 0.77 EPS for the current fiscal year.
In other Ameresco news, insider Louis P. Maltezos sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $14.54, for a total transaction of $72,700.00. Following the transaction, the insider now owns 25,000 shares in the company, valued at $363,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Louis P. Maltezos sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $14.91, for a total value of $521,850.00. Following the transaction, the insider now owns 32,000 shares in the company, valued at approximately $477,120. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock worth $863,700 in the last 90 days. 57.93% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Royce & Associates LP grew its stake in shares of Ameresco by 4.5% in the second quarter. Royce & Associates LP now owns 596,149 shares of the utilities provider’s stock worth $7,154,000 after acquiring an additional 25,500 shares during the last quarter. Gagnon Securities LLC lifted its position in Ameresco by 5.6% in the second quarter. Gagnon Securities LLC now owns 984,235 shares of the utilities provider’s stock worth $11,811,000 after purchasing an additional 52,524 shares during the period. First Trust Advisors LP lifted its position in Ameresco by 623.5% in the second quarter. First Trust Advisors LP now owns 189,623 shares of the utilities provider’s stock worth $2,275,000 after purchasing an additional 163,413 shares during the period. Sei Investments Co. bought a new position in Ameresco in the second quarter worth $206,000. Finally, Gagnon Advisors LLC lifted its position in Ameresco by 4.7% in the second quarter. Gagnon Advisors LLC now owns 632,952 shares of the utilities provider’s stock worth $7,595,000 after purchasing an additional 28,628 shares during the period. Institutional investors own 28.15% 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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