Ameresco, Inc. (AMRC) Upgraded to Buy by Zacks Investment Research
Ameresco, Inc. (NYSE:AMRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $9.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 16.88% from the stock’s previous close.
According to Zacks, “Ameresco, Inc. is an independent provider of comprehensive energy efficiency solutions for facilities throughout North America. The Company’s solutions include upgrades to a facility’s energy infrastructure, and the construction and operation of renewable energy plants. It engages in the development, design, engineering, and installation of projects that reduce the energy, as well as operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco, Inc. is headquartered in Framingham, Massachusetts. “
Other equities analysts have also recently issued research reports about the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $10.00 price objective (up previously from $8.50) on shares of Ameresco in a research report on Wednesday. Canaccord Genuity increased their price objective on shares of Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, BidaskClub raised shares of Ameresco from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Ameresco presently has a consensus rating of “Buy” and a consensus target price of $8.88.
Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.03. The firm had revenue of $204.74 million during the quarter, compared to analysts’ expectations of $186.20 million. Ameresco had a net margin of 2.49% and a return on equity of 5.48%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS.
ILLEGAL ACTIVITY NOTICE: “Ameresco, Inc. (AMRC) Upgraded to Buy by Zacks Investment Research” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/ameresco-inc-amrc-upgraded-to-buy-by-zacks-investment-research/1674307.html.
In other Ameresco news, insider Joseph P. Demanche sold 7,007 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $8.00, for a total transaction of $56,056.00. Following the sale, the insider now directly owns 196,625 shares in the company, valued at approximately $1,573,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph P. Demanche sold 4,220 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $7.80, for a total transaction of $32,916.00. Following the sale, the insider now owns 200,000 shares in the company, valued at $1,560,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,220 shares of company stock worth $112,916. 58.36% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Ameresco by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 121,189 shares of the utilities provider’s stock valued at $794,000 after purchasing an additional 773 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Ameresco in the 2nd quarter valued at $2,410,000. Dimensional Fund Advisors LP raised its holdings in shares of Ameresco by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 850,929 shares of the utilities provider’s stock valued at $5,573,000 after purchasing an additional 60,657 shares in the last quarter. TIAA FSB acquired a new stake in shares of Ameresco in the 3rd quarter valued at $496,000. Finally, Gagnon Advisors LLC raised its holdings in shares of Ameresco by 0.3% in the 2nd quarter. Gagnon Advisors LLC now owns 932,445 shares of the utilities provider’s stock valued at $7,180,000 after purchasing an additional 2,345 shares in the last quarter. Institutional investors and hedge funds own 23.92% of the company’s stock.
Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.
Receive News & Ratings for Ameresco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameresco Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.