Ameresco (AMRC) Rating Reiterated by B. Riley

B. Riley reiterated their buy rating on shares of Ameresco (NYSE:AMRC) in a report released on Thursday morning. The brokerage currently has a $19.00 price objective on the utilities provider’s stock.

Several other brokerages also recently weighed in on AMRC. Zacks Investment Research raised Ameresco from a hold rating to a strong-buy rating and set a $21.00 price target for the company in a report on Wednesday, March 6th. Canaccord Genuity increased their price target on Ameresco from $16.50 to $19.50 and gave the stock a buy rating in a report on Thursday, March 7th. Finally, Roth Capital raised Ameresco from a neutral rating to a buy rating and increased their price target for the stock from $16.00 to $19.00 in a report on Monday, March 4th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Ameresco currently has a consensus rating of Buy and an average target price of $19.10.

AMRC stock opened at $16.26 on Thursday. The company has a market capitalization of $746.26 million, a PE ratio of 20.07, a PEG ratio of 0.98 and a beta of 0.61. Ameresco has a twelve month low of $11.00 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.39.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Ameresco had a return on equity of 10.56% and a net margin of 4.83%. The business had revenue of $217.40 million during the quarter, compared to the consensus estimate of $227.53 million. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Ameresco will post 0.95 EPS for the current year.

In other Ameresco news, EVP David Anderson sold 30,243 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.00, for a total value of $514,131.00. Following the completion of the sale, the executive vice president now owns 100,000 shares of the company’s stock, valued at $1,700,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph W. Sutton sold 10,918 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $18.01, for a total value of $196,633.18. The disclosure for this sale can be found here. In the last three months, insiders sold 169,063 shares of company stock valued at $2,689,266. 57.93% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Ameresco by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 195,727 shares of the utilities provider’s stock valued at $2,759,000 after acquiring an additional 12,812 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ameresco by 9.2% in the fourth 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 period. Metropolitan Life Insurance Co. NY acquired a new stake in Ameresco in the fourth quarter valued at $99,000. MetLife Investment Advisors LLC acquired a new stake in Ameresco in the fourth quarter valued at $136,000. Finally, Oberweis Asset Management Inc. lifted its holdings in Ameresco by 57.1% in the fourth quarter. Oberweis Asset Management Inc. now owns 99,908 shares of the utilities provider’s stock valued at $1,409,000 after acquiring an additional 36,300 shares during the period. 29.97% of the stock is owned by institutional investors.

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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