Ameresco (AMRC) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Ameresco (NYSE:AMRC) from a hold rating to a buy rating in a report issued on Friday morning, Zacks.com reports. Zacks Investment Research currently has $18.00 target price 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 analysts have also recently commented on AMRC. B. Riley reiterated a buy rating and issued a $19.00 price target (up previously from $17.50) on shares of Ameresco in a research note on Thursday, March 7th. Canaccord Genuity increased their price target on shares of Ameresco from $16.50 to $19.50 and gave the company a buy rating in a research note on Thursday, March 7th. Finally, Roth Capital upgraded shares of Ameresco from a neutral rating to a buy rating and raised their target price for the stock from $16.00 to $19.00 in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $18.50.
Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $217.40 million during the quarter, compared to analysts’ expectations of $227.53 million. Ameresco had a net margin of 4.83% and a return on equity of 10.56%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. As a group, equities research analysts predict that Ameresco will post 0.84 earnings per share for the current fiscal year.
In other Ameresco news, EVP Michael T. Bakas sold 2,720 shares of Ameresco stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $15.24, for a total value of $41,452.80. Following the completion of the sale, the executive vice president now owns 109,330 shares in the company, valued at approximately $1,666,189.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David J. Corrsin sold 2,000 shares of Ameresco stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $16.50, for a total transaction of $33,000.00. Following the completion of the sale, the executive vice president now owns 1,097,372 shares of the company’s stock, valued at approximately $18,106,638. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,755 shares of company stock valued at $2,519,186. 57.93% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of AMRC. Dimensional Fund Advisors LP raised its stake in Ameresco by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,519,356 shares of the utilities provider’s stock worth $21,423,000 after purchasing an additional 127,758 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in Ameresco in the 4th quarter worth about $586,000. BlackRock Inc. raised its stake in Ameresco by 3.9% in the 3rd quarter. BlackRock Inc. now owns 1,008,974 shares of the utilities provider’s stock worth $13,773,000 after purchasing an additional 38,236 shares in the last quarter. Oberweis Asset Management Inc. raised its stake in Ameresco by 57.1% in the 4th quarter. Oberweis Asset Management Inc. now owns 99,908 shares of the utilities provider’s stock worth $1,409,000 after purchasing an additional 36,300 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Ameresco by 9.5% in the 4th quarter. Handelsbanken Fonder AB now owns 415,442 shares of the utilities provider’s stock worth $5,858,000 after purchasing an additional 36,092 shares in the last quarter. Institutional investors and hedge funds own 29.82% 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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