Oppenheimer Holdings, Inc. Analysts Give Ameresco, Inc. (AMRC) a $9.00 Price Target
Ameresco, Inc. (NYSE:AMRC) has been given a $9.00 target price by stock analysts at Oppenheimer Holdings, Inc. in a report issued on Wednesday. The firm presently has a “buy” rating on the utilities provider’s stock. Oppenheimer Holdings, Inc.’s price target would suggest a potential upside of 35.34% from the company’s current price.
AMRC has been the subject of several other research reports. BidaskClub downgraded shares of Ameresco from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Ameresco from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Canaccord Genuity reissued a “buy” rating and set a $8.00 price objective on shares of Ameresco in a report on Monday. Finally, Roth Capital raised shares of Ameresco from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.50 to $8.00 in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.38.
Ameresco (AMRC) traded up 6.40% during midday trading on Wednesday, reaching $6.65. The company had a trading volume of 61,708 shares. The company has a market capitalization of $302.07 million, a price-to-earnings ratio of 29.69 and a beta of 1.14. The firm has a 50-day moving average price of $6.92 and a 200-day moving average price of $6.28. Ameresco has a 52 week low of $4.51 and a 52 week high of $7.85.
Ameresco (NYSE:AMRC) last released its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. Ameresco had a net margin of 1.58% and a return on equity of 4.52%. The business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $162.53 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Analysts expect that Ameresco will post $0.39 EPS for the current fiscal year.
In related news, insider Louis P. Maltezos sold 23,175 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $6.65, for a total value of $154,113.75. Following the completion of the transaction, the insider now owns 23,175 shares of the company’s stock, valued at approximately $154,113.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 58.36% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pillar Pacific Capital Management LLC purchased a new stake in Ameresco during the second quarter worth $151,000. Janney Montgomery Scott LLC raised its stake in Ameresco by 21.6% in the first quarter. Janney Montgomery Scott LLC now owns 21,748 shares of the utilities provider’s stock worth $142,000 after buying an additional 3,860 shares during the period. Algert Global LLC raised its stake in Ameresco by 122.2% in the first quarter. Algert Global LLC now owns 22,619 shares of the utilities provider’s stock worth $148,000 after buying an additional 12,440 shares during the period. Russell Investments Group Ltd. purchased a new stake in Ameresco during the fourth quarter worth $188,000. Finally, Teachers Advisors LLC raised its stake in Ameresco by 13.6% in the fourth quarter. Teachers Advisors LLC now owns 34,253 shares of the utilities provider’s stock worth $188,000 after buying an additional 4,112 shares during the period. 22.20% of the stock is owned by hedge funds and other institutional investors.
Ameresco Company Profile
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.
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