Ameresco, Inc. (AMRC) Stock Rating Upgraded by Zacks Investment Research

Ameresco, Inc. (NYSE:AMRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, November 2nd. The firm currently has a $9.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 5.88% from the company’s current price.

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 research analysts have also recently issued reports about the company. BidaskClub cut Ameresco from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $10.00 price target (up from $8.50) on shares of Ameresco in a research note on Wednesday, November 1st. Finally, Canaccord Genuity upped their price objective on Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $8.88.

Shares of Ameresco (AMRC) traded down $0.20 during midday trading on Thursday, hitting $8.50. The stock had a trading volume of 49,200 shares, compared to its average volume of 74,903. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.24 and a current ratio of 1.29. Ameresco has a 12-month low of $4.80 and a 12-month high of $8.80. The stock has a market capitalization of $395.88, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. Ameresco had a return on equity of 5.42% and a net margin of 2.49%. The company had revenue of $204.74 million for the quarter, compared to the consensus estimate of $186.20 million. During the same period last year, the business posted $0.16 EPS. Ameresco’s quarterly revenue was up 13.4% on a year-over-year basis. research analysts expect that Ameresco will post 0.41 EPS for the current year.

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In other Ameresco news, insider Joseph P. Demanche sold 30,329 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $8.40, for a total transaction of $254,763.60. Following the completion of the transaction, the insider now directly owns 159,671 shares of the company’s stock, valued at approximately $1,341,236.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph P. Demanche sold 7,007 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $8.00, for a total transaction of $56,056.00. Following the completion of the sale, the insider now directly owns 196,625 shares of the company’s stock, valued at $1,573,000. The disclosure for this sale can be found here. Insiders sold a total of 44,549 shares of company stock worth $367,680 in the last quarter. 58.36% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new stake in shares of Ameresco during the second quarter valued at approximately $141,000. Parametric Portfolio Associates LLC increased its stake in shares of Ameresco by 8.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,911 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 1,529 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Ameresco during the 2nd quarter worth $148,000. Pillar Pacific Capital Management LLC bought a new stake in shares of Ameresco during the 2nd quarter worth $151,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Ameresco during the 2nd quarter worth $154,000. 23.89% of the stock is owned by institutional investors and hedge funds.

Ameresco Company Profile

Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.

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