Ameresco (AMRC) Raised to B- at TheStreet

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TheStreet upgraded shares of Ameresco (NYSE:AMRC) from a c+ rating to a b- rating in a report issued on Wednesday morning.

A number of other brokerages also recently issued reports on AMRC. Zacks Investment Research raised Ameresco from a hold rating to a buy rating and set a $18.00 price target on the stock in a report on Thursday, November 1st. Canaccord Genuity increased their target price on Ameresco from $16.00 to $16.50 and gave the company a buy rating in a report on Wednesday, October 31st. Oppenheimer set a $17.00 target price on Ameresco and gave the company a buy rating in a report on Tuesday, October 30th. Roth Capital downgraded Ameresco from a buy rating to a neutral rating and lowered their target price for the company from $15.00 to $14.00 in a report on Thursday, October 4th. Finally, ValuEngine downgraded Ameresco from a buy rating to a hold rating in a report on Thursday, October 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $16.38.

Shares of NYSE:AMRC traded down $0.30 during midday trading on Wednesday, reaching $14.94. 2,368 shares of the company’s stock traded hands, compared to its average volume of 174,596. The company has a market cap of $700.39 million, a P/E ratio of 19.59, a PEG ratio of 1.14 and a beta of 0.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.53. Ameresco has a one year low of $7.65 and a one year high of $16.59.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. The firm had revenue of $205.40 million for the quarter, compared to the consensus estimate of $208.40 million. Ameresco had a return on equity of 14.06% and a net margin of 6.43%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts anticipate that Ameresco will post 0.77 earnings per share for the current year.

In other Ameresco news, VP Mark Chiplock sold 2,500 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $15.71, for a total value of $39,275.00. Following the completion of the sale, the vice president now owns 2,500 shares in the company, valued at $39,275. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Francis V. Wisneski, Jr. sold 5,516 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $15.97, for a total value of $88,090.52. Following the completion of the sale, the director now owns 110,676 shares of the company’s stock, valued at approximately $1,767,495.72. The disclosure for this sale can be found here. In the last three months, insiders sold 33,016 shares of company stock worth $469,216. 57.93% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Ameresco by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,289,714 shares of the utilities provider’s stock worth $15,476,000 after buying an additional 146,253 shares in the last quarter. Gagnon Securities LLC increased its position in Ameresco by 5.6% in the second quarter. Gagnon Securities LLC now owns 984,235 shares of the utilities provider’s stock worth $11,811,000 after buying an additional 52,524 shares in the last quarter. BlackRock Inc. increased its position in Ameresco by 13.3% in the second quarter. BlackRock Inc. now owns 970,738 shares of the utilities provider’s stock worth $11,649,000 after buying an additional 114,297 shares in the last quarter. Gagnon Advisors LLC increased its position in Ameresco by 4.7% in the second quarter. Gagnon Advisors LLC now owns 632,952 shares of the utilities provider’s stock worth $7,595,000 after buying an additional 28,628 shares in the last quarter. Finally, Royce & Associates LP increased its position in Ameresco by 4.5% in the second quarter. Royce & Associates LP now owns 596,149 shares of the utilities provider’s stock worth $7,154,000 after buying an additional 25,500 shares in the last quarter. Institutional investors and hedge funds own 28.15% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.

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