Ameresco Inc (NYSE:AMRC) Receives $18.63 Consensus Target Price from Analysts

Ameresco Inc (NYSE:AMRC) has been given an average rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $18.63.

Several brokerages have recently issued reports on AMRC. Zacks Investment Research lowered Ameresco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 21st. Canaccord Genuity increased 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. B. Riley reissued a “buy” rating and issued a $19.00 target price on shares of Ameresco in a research report on Thursday, March 14th. Finally, Roth Capital raised Ameresco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.00 to $19.00 in a research report on Monday, March 4th.

Shares of NYSE:AMRC opened at $14.73 on Wednesday. Ameresco has a 52-week low of $11.73 and a 52-week high of $18.05. The company has a market cap of $713.96 million, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.07 and a beta of 0.56. The stock has a 50 day moving average price of $14.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.28 and a quick ratio of 1.24.

Ameresco (NYSE:AMRC) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 in the prior year, the company earned $0.16 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. On average, analysts forecast that Ameresco will post 0.78 earnings per share for the current fiscal year.

In other Ameresco news, EVP David J. Corrsin sold 37,290 shares of Ameresco stock in a transaction on Friday, April 12th. The stock was sold at an average price of $16.52, for a total value of $616,030.80. Following the completion of the sale, the executive vice president now owns 1,053,338 shares of the company’s stock, valued at approximately $17,401,143.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David J. Corrsin sold 42,982 shares of Ameresco stock in a transaction on Monday, April 15th. The stock was sold at an average price of $16.52, for a total value of $710,062.64. Following the completion of the sale, the executive vice president now directly owns 1,053,338 shares of the company’s stock, valued at approximately $17,401,143.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,046 shares of company stock valued at $1,503,864. 57.93% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its stake in shares of Ameresco by 508.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,945 shares of the utilities provider’s stock worth $64,000 after buying an additional 3,297 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Ameresco by 134.0% in the 1st quarter. Meeder Asset Management Inc. now owns 4,205 shares of the utilities provider’s stock worth $68,000 after buying an additional 2,408 shares during the last quarter. Advisor Group Inc. purchased a new position in shares of Ameresco in the 4th quarter worth $75,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Ameresco in the 4th quarter worth $99,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Ameresco in the 4th quarter worth $136,000. 28.92% of the stock is owned by institutional investors and hedge funds.

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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