Ameresco (NYSE:AMRC) Receives “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Ameresco (NYSE:AMRC) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $38.00 target price on the utilities provider’s stock, up from their prior target price of $37.00.

AMRC has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ameresco in a research report on Wednesday, March 4th. UBS Group boosted their price objective on shares of Ameresco from $23.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. B. Riley Financial increased their target price on shares of Ameresco from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Canaccord Genuity Group lifted their price target on shares of Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Roth Mkm reissued a “buy” rating on shares of Ameresco in a research report on Wednesday, December 3rd. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ameresco currently has an average rating of “Moderate Buy” and an average price target of $40.20.

Ameresco Stock Performance

AMRC opened at $25.86 on Wednesday. The business’s 50-day moving average price is $31.00 and its two-hundred day moving average price is $32.37. Ameresco has a 1 year low of $8.49 and a 1 year high of $44.93. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 1.96 and a beta of 2.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.50.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $581.03 million for the quarter, compared to analyst estimates of $556.09 million. Ameresco had a return on equity of 4.49% and a net margin of 2.29%.The company’s quarterly revenue 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. Equities analysts expect that Ameresco will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling at Ameresco

In related news, Director Nickolas Stavropoulos sold 15,700 shares of Ameresco stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $34.15, for a total transaction of $536,155.00. Following the completion of the sale, the director directly owned 14,111 shares of the company’s stock, valued at approximately $481,890.65. This trade represents a 52.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 16,695 shares of company stock worth $569,614 in the last 90 days. 44.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in Ameresco during the 1st quarter worth $820,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ameresco by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,477 shares of the utilities provider’s stock valued at $513,000 after acquiring an additional 884 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ameresco by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 222,433 shares of the utilities provider’s stock valued at $2,687,000 after acquiring an additional 42,499 shares in the last quarter. Empowered Funds LLC bought a new position in Ameresco during the first quarter worth about $1,187,000. Finally, KBC Group NV increased its position in Ameresco by 177.5% during the second quarter. KBC Group NV now owns 142,828 shares of the utilities provider’s stock worth $2,170,000 after acquiring an additional 91,366 shares during the period. 99.24% of the stock is owned by institutional investors and hedge funds.

About Ameresco

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.