Ameresco (NYSE:AMRC) Lifted to Strong-Buy at B. Riley

Ameresco (NYSE:AMRC) was upgraded by research analysts at B. Riley to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

A number of other research firms have also recently weighed in on AMRC. Guggenheim reissued a “neutral” rating on shares of Ameresco in a research note on Thursday, February 29th. Canaccord Genuity Group decreased their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Raymond James decreased their price objective on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Finally, Stifel Nicolaus decreased their price objective on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.31.

Ameresco Stock Performance

NYSE:AMRC opened at $30.72 on Tuesday. The firm’s 50-day moving average is $29.10 and its 200-day moving average is $25.87. Ameresco has a 52-week low of $17.55 and a 52-week high of $63.19. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 0.91 and a beta of 1.78.

Ameresco (NYSE:AMRC) last posted its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $298.41 million for the quarter, compared to analysts’ expectations of $255.38 million. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities research analysts anticipate that Ameresco will post 1.38 earnings per share for the current year.

Insider Activity at Ameresco

In related news, CAO Mark Chiplock sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $35.00, for a total value of $105,000.00. Following the transaction, the chief accounting officer now directly owns 348 shares in the company, valued at $12,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 42.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameresco

Several hedge funds have recently bought and sold shares of AMRC. Quest Partners LLC bought a new stake in shares of Ameresco during the fourth quarter worth $62,000. Cetera Trust Company N.A bought a new stake in shares of Ameresco during the fourth quarter worth $106,000. Invst LLC bought a new stake in shares of Ameresco during the first quarter worth $225,000. CANADA LIFE ASSURANCE Co increased its position in shares of Ameresco by 51.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,931 shares of the utilities provider’s stock worth $239,000 after acquiring an additional 3,374 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Ameresco by 15.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 1,410 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.