Ameresco Inc (AMRC) Receives $18.63 Consensus Price Target from Brokerages

Shares of Ameresco Inc (NYSE:AMRC) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.63.

Several research analysts have recently commented on AMRC shares. Zacks Investment Research upgraded Ameresco from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, February 6th. Roth Capital upgraded Ameresco from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $19.00 in a research report on Monday, March 4th. Canaccord Genuity lifted their target price on Ameresco from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, B. Riley reiterated a “buy” rating and issued a $19.00 target price (up previously from $17.50) on shares of Ameresco in a research report on Thursday, March 7th.

In related news, Director Nickolas Stavropoulos acquired 4,000 shares of Ameresco stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $15.19 per share, for a total transaction of $60,760.00. Following the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $60,760. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $33,000.00. Following the transaction, 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 quarter, insiders sold 91,046 shares of company stock valued at $1,503,864. Insiders own 57.93% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in Ameresco during the 4th quarter valued at approximately $25,000. BNP Paribas Arbitrage SA boosted its position in Ameresco by 508.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,945 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 3,297 shares during the period. Advisor Group Inc. acquired a new position in Ameresco during the 4th quarter valued at approximately $75,000. Metropolitan Life Insurance Co. NY acquired a new position in Ameresco during the 4th quarter valued at approximately $99,000. Finally, MetLife Investment Advisors LLC acquired a new position in Ameresco during the 4th quarter valued at approximately $136,000. Institutional investors and hedge funds own 28.92% of the company’s stock.

NYSE AMRC traded down $0.39 during mid-day trading on Friday, reaching $14.25. 4,428 shares of the company’s stock traded hands, compared to its average volume of 112,815. Ameresco has a 1-year low of $11.54 and a 1-year high of $18.05. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.59. The firm has a market cap of $712.55 million, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Ameresco had a return on equity of 8.44% and a net margin of 4.57%. The firm had revenue of $150.10 million during the quarter, compared to analyst estimates of $150.29 million. During the same quarter last year, the firm earned $0.16 EPS. Ameresco’s quarterly revenue was down 10.3% on a year-over-year basis. On average, analysts anticipate that Ameresco will post 0.78 earnings per share for the current year.

About Ameresco

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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