Ameresco Inc (NYSE:AMRC) Receives Average Rating of “Buy” from Analysts

Ameresco Inc (NYSE:AMRC) has been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.63.

Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Ameresco from a “buy” rating to a “hold” rating in a report on Monday, April 15th. B. Riley reiterated a “buy” rating and set a $19.00 price objective (up previously from $17.50) on shares of Ameresco in a research note on Thursday, March 7th. Canaccord Genuity boosted their price objective on shares of Ameresco from $16.50 to $19.50 and gave the stock 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 boosted their price objective for the stock from $16.00 to $19.00 in a research note on Monday, March 4th.

In other Ameresco news, EVP David J. Corrsin sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $16.50, for a total transaction of $33,000.00. Following the sale, the executive vice president now owns 1,097,372 shares of the company’s stock, valued at approximately $18,106,638. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David J. Corrsin sold 42,982 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $16.52, for a total transaction of $710,062.64. Following the sale, the executive vice president now directly owns 1,053,338 shares in the company, valued at approximately $17,401,143.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,046 shares of company stock valued at $1,503,864. 57.93% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in AMRC. Dimensional Fund Advisors LP boosted its holdings in shares of Ameresco by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,519,356 shares of the utilities provider’s stock valued at $21,423,000 after acquiring an additional 127,758 shares during the last quarter. BlackRock Inc. boosted its holdings in Ameresco by 3.8% during the fourth quarter. BlackRock Inc. now owns 1,046,902 shares of the utilities provider’s stock worth $14,762,000 after buying an additional 37,928 shares in the last quarter. Royce & Associates LP boosted its holdings in Ameresco by 27.8% during the first quarter. Royce & Associates LP now owns 727,019 shares of the utilities provider’s stock worth $11,763,000 after buying an additional 158,060 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Ameresco by 29.9% during the first quarter. Handelsbanken Fonder AB now owns 539,750 shares of the utilities provider’s stock worth $8,733,000 after buying an additional 124,308 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Ameresco by 9.4% during the fourth quarter. Northern Trust Corp now owns 228,344 shares of the utilities provider’s stock worth $3,220,000 after buying an additional 19,662 shares in the last quarter. 28.92% of the stock is currently owned by institutional investors.

NYSE:AMRC opened at $14.26 on Wednesday. Ameresco has a one year low of $11.60 and a one year high of $18.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market cap of $695.59 million, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.05 and a beta of 0.56. The firm has a 50-day simple moving average of $14.82.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Ameresco had a net margin of 4.57% and a return on equity of 8.44%. The business had revenue of $150.10 million during the quarter, compared to analyst estimates of $150.29 million. During the same quarter in the previous year, the business posted $0.16 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Sell-side analysts expect that Ameresco will post 0.78 EPS for the current fiscal year.

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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