B. Riley Financial Raises Ameresco (NYSE:AMRC) Price Target to $47.00

Ameresco (NYSE:AMRC) had its price objective upped by analysts at B. Riley Financial from $45.00 to $47.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. B. Riley Financial’s target price points to a potential upside of 73.30% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Ameresco from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Wall Street Zen downgraded Ameresco from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Canaccord Genuity Group raised their price objective on Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group upped their target price on Ameresco from $23.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Jefferies Financial Group set a $45.00 target price on Ameresco and gave the company a “buy” rating in a research note on Tuesday, November 4th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ameresco has a consensus rating of “Moderate Buy” and an average target price of $40.10.

Ameresco Stock Down 3.7%

NYSE AMRC opened at $27.12 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. Ameresco has a fifty-two week low of $8.49 and a fifty-two week high of $44.93. The business has a 50 day moving average price of $31.29 and a two-hundred day moving average price of $32.21. The stock has a market cap of $1.43 billion, a PE ratio of 32.68, a P/E/G ratio of 2.20 and a beta of 2.53.

Ameresco (NYSE:AMRC) last posted its earnings results on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $581.03 million for the quarter, compared to analysts’ expectations of $556.09 million. Ameresco had a net margin of 2.29% and a return on equity of 4.49%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. As a group, sell-side analysts predict that Ameresco will post 1.15 EPS for the current fiscal year.

Insider Activity at Ameresco

In other news, Director Nickolas Stavropoulos sold 15,700 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $34.15, for a total value of $536,155.00. Following the completion of the sale, the director directly owned 14,111 shares in the company, valued at approximately $481,890.65. The trade was a 52.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 16,645 shares of company stock valued at $568,297. 44.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ameresco

A number of hedge funds have recently added to or reduced their stakes in AMRC. State of Wyoming acquired a new position in shares of Ameresco in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new position in Ameresco in the fourth quarter worth about $48,000. CoreCap Advisors LLC acquired a new position in Ameresco in the third quarter valued at approximately $50,000. Tower Research Capital LLC TRC grew its holdings in shares of Ameresco by 99.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Ameresco during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.