Ameresco, Inc. (NYSE:AMRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, November 2nd. The brokerage currently has a $9.00 target price on the utilities provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 5.88% from the stock’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. “
Several other research analysts have also recently weighed in on the stock. BidaskClub cut shares of Ameresco from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $10.00 price target (up from $8.50) on shares of Ameresco in a report on Wednesday, November 1st. Finally, Canaccord Genuity raised their target price on shares of Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $8.88.
Ameresco (NYSE AMRC) remained flat at $$8.50 during trading on Thursday. The stock had a trading volume of 93,018 shares, compared to its average volume of 74,341. Ameresco has a twelve month low of $4.80 and a twelve month high of $8.80. The company has a market capitalization of $389.05, a price-to-earnings ratio of 24.00, a P/E/G ratio of 3.37 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.57.
Ameresco (NYSE:AMRC) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The business had revenue of $204.74 million during the quarter, compared to the consensus estimate of $186.20 million. Ameresco had a net margin of 2.49% and a return on equity of 5.42%. Ameresco’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. research analysts expect that Ameresco will post 0.41 earnings per share for the current year.
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In other Ameresco news, insider Joseph P. Demanche sold 30,329 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $8.40, for a total value of $254,763.60. Following the sale, the insider now owns 159,671 shares in the company, valued at $1,341,236.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph P. Demanche sold 7,007 shares of Ameresco stock in a transaction 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 transaction, the insider now owns 196,625 shares in the company, valued at approximately $1,573,000. The disclosure for this sale can be found here. Insiders sold 44,549 shares of company stock worth $367,680 over the last three months. 58.36% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Ameresco by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 943,907 shares of the utilities provider’s stock worth $7,363,000 after purchasing an additional 41,937 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Ameresco during the third quarter worth $167,000. Wells Fargo & Company MN raised its stake in Ameresco by 23.0% during the third quarter. Wells Fargo & Company MN now owns 34,639 shares of the utilities provider’s stock worth $270,000 after buying an additional 6,469 shares during the last quarter. Rock Point Advisors LLC raised its stake in Ameresco by 1.0% during the third quarter. Rock Point Advisors LLC now owns 819,978 shares of the utilities provider’s stock worth $6,396,000 after buying an additional 8,202 shares during the last quarter. Finally, TIAA FSB bought a new position in Ameresco during the third quarter worth $496,000. Institutional investors own 25.27% of the company’s stock.
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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