Zacks Investment Research upgraded shares of Ameresco (NYSE:AMRC) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $64.00 price target on the utilities provider’s stock.
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. “
Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Ameresco in a research note on Tuesday, April 13th. They set a buy rating and a $58.00 price target for the company. Oppenheimer lifted their price objective on shares of Ameresco from $48.00 to $66.00 and gave the company an outperform rating in a research note on Tuesday, March 2nd. B. Riley lifted their price objective on shares of Ameresco from $50.00 to $72.00 and gave the company a buy rating in a research note on Tuesday, February 9th. William Blair assumed coverage on shares of Ameresco in a research note on Wednesday, April 7th. They issued an outperform rating for the company. Finally, Canaccord Genuity lifted their price objective on shares of Ameresco from $52.00 to $82.00 and gave the company a buy rating in a research note on Wednesday, March 3rd. Eleven equities research analysts have rated the stock with a buy rating, Ameresco presently has a consensus rating of Buy and a consensus price target of $60.40.
Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Monday, May 3rd. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.15. Ameresco had a net margin of 5.51% and a return on equity of 12.44%. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $202.52 million. Equities research analysts anticipate that Ameresco will post 1.28 earnings per share for the current fiscal year.
In other news, Director Thomas S. Murley sold 8,000 shares of Ameresco stock in a transaction on Monday, June 7th. The shares were sold at an average price of $56.63, for a total transaction of $453,040.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $707,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas S. Murley sold 6,000 shares of Ameresco stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $58.86, for a total transaction of $353,160.00. Following the sale, the director now directly owns 12,500 shares of the company’s stock, valued at $735,750. The disclosure for this sale can be found here. Insiders have sold a total of 34,500 shares of company stock valued at $1,899,520 over the last 90 days. Company insiders own 41.68% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in Ameresco in the fourth quarter worth $30,000. Valeo Financial Advisors LLC lifted its stake in Ameresco by 46.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 630 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 200 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Ameresco in the fourth quarter worth $36,000. Harbor Investment Advisory LLC lifted its stake in Ameresco by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 1,178 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 359 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Ameresco in the first quarter worth $60,000. 47.64% of the stock is owned by institutional investors.
Ameresco, Inc provides comprehensive energy services for businesses and organizations in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S.
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